China/Fiji meeting, a success
Monday September 03, 2007

The first meeting of the China/Fiji Trade and Economic Commission has been hailed a success.

Permanent Secretary in the Prime Minister’s Office Parmesh Chand, who co-chaired the meeting said there is a lot going in the vital areas of trade, economic and developmental co-operation between the two countries.

In the area of trade, China is fully committed to seeing that more products are sourced out of Fiji to reduce the trade imbalance currently existing in their favour.

Based on the figure for the year ending 2006, Fiji imported $112 million worth of goods from China and on the other hand exported just over $3 million, thereby leaving a balance of merchandise trade of $109 million in China’s favour.

Chand said China is keen to consider reduction in duty on identified exports out of Fiji and provide technical assistance.

“Our joint meeting discussed the necessity for concerted follow-up action to enhance Fiji’s exports to China, thereby bridging the trade imbalance. We also discussed the benefits of negotiating and signing a Bilateral Investment Protection Agreement between the two countries. There will be further discussions and preparatory work undertaken in this area in the coming months,” he said.

Chand said that there were fruitful discussions on developmental co-operation, covering grant in aid projects as well as soft loan funding possibilities.

“In particular, we discussed and signed the Implementation Contract for Navuso Bridge and the Design Contract for the Multi Purpose Cargo Vessel to be built in China.

“We also discussed the progress of preparatory work for Somosomo mini-hydro project, assistance to textile industry, upgrading of Navuso Agrcultural College and provision of equipment for Meteorological Office. There were also preliminary discussions on terms and conditions of the Chinese soft loan funding facility.”

Chand added the Commission meeting was provided a briefing on the status of implementation of tourism approved destination status for Fiji, particularly the visa policy recently approved by Cabinet.

The proposal for joint Fiji/China Trade and Economic Commission was initially mooted by the Chinese authorities and subsequently accepted by Fiji.

This was the first meeting of the Commission and it was hosted by the Government of the Peoples’ Republic of China in Beijing last Thursday.

The purpose of the Commission is to provide a forum for constructive dialogue, exchange of information and views and pursuance of follow-up action to enhance level of trade and investment flow between the two countries. It has been agreed in principle that the next Meeting of the Commission will be held in Fiji, at a time and venue to be discussed later.

Fiji was represented at the Beijing Joint Commission meeting by Permanent Secretaries of Prime Minister’s Office, Finance, Foreign Affairs and Transport. Support was provided by senior officials from the Prime Minister’s Office as well as the Fiji Embassy in Beijing.