Fiji considers a free trade agreement with PNG: PM
July 12, 2018 7:00 pm
Fiji is considering a proposal from Papua New Guinea to establish a free trade agreement between our two nations.
Prime Minister Voreqe Bainimarama confirmed to FBC News that Fijian officials will soon begin collecting the required information to ink the agreement.
Earlier, this week, Papua New Guinea’s Prime Minister Peter O’Neill highlighted the need for both nations to expand bilateral trade.
“Trade and investment between our countries are growing but it could be better – I would like to explore a possibility of a free-trade agreement between our two countries – so that we can take advantage of the strengths and the collective strengths that we have in our respective countries.”
Trade Minister Faiyaz Koya says this agreement would be a great opportunity for Fiji.
“We are good trading partners. We trade with them – they send us goods and we send the goods. They are part of our MSG as well so this would be a good agreement for Fiji.”
A free trade agreement involves cooperation between at least two countries to reduce trade barriers, import quotas and tariffs while increasing trade and services with each other.