POST Online Media Lite Edition


Australia and Fiji enjoyed $1.9 billion trade relationship

Staff Writer |
With global patterns of trade changing year by year, offering major opportunities for exporting economies such as Australia and Fiji, the federal government's Foriegn Policy White Paper is expected to make clear and stronger ties with the Pacific.

Article continues below

Australia's Assistant Minister for Trade and Investment, Keith Pitt made the statement at the Australia-Fiji Business Forum in Sydney, The Fiji Times reports.

Pitt said both countries enjoyed a $1.9 billion two-way trade relationship, and it had been moving in the right direction.

He said 10 years ago it was $1.2b while more than 15 per cent of Fiji's merchandise exports were bound for Australia, surpassed only by the United States at 18 per cent.

"And Australia is Fiji's second largest source of merchandise imports, behind New Zealand. In practical terms there are more than 3000 Australian businesses exporting to Fiji.

"Around 350,000 Australians visited Fiji last year. Fiji captures an impressive market share of over 55 per cent of Australian tourists visiting the Pacific —not including New Zealand," said Pitt.

He said last year the value of Fiji's goods and services exports to Australia was $1.3b, compared with Australia's exports to Fiji of $540m.

"Australian investors have to date invested over $1.3b in Fiji, around one-sixth of all foreign investment in Fiji. And we can't overlook Fijian investment in Australia which is valued at $502m.

"This is impressive for a country of Fiji's size."

What to read next

Fiji Green Bond attracts keen interest
Fiji losing $60.26 million in exports to US
Fiji village seasonal work ban labeled 'ruthless'