Pm Rabuka’s Press Statement- New Prime Minister’s Visit To Fiji-(06-06-2024)
07/06/2024
Prime Minister Rabuka Congratulates Shri Narendra Modi for His Re-Election 3rd Term as Indian Prime Minister
11/06/2024Published On: 07/06/2024
SALUTATIONS
• The Rt Honorable Christopher Luxon, Prime Minister of
New Zealand;
• Honorable Cabinet Ministers & Assistant Ministers;
• Mr. James Trussler, President, Fiji-New Zealand Business
Council;
• Mr. Chandra Sen, President, New Zealand-Fiji Business
Council
• Mr. Simon Bridges, CEO, Auckland Business Chamber;
• Distinguished CEOs, Business representatives &
• Invited Guests,
Ni sa Bula Vinaka, and a very good morning to you all.I would like to begin by acknowledging the Traditional Owners and Custodians of the land on which we stand today, ki Navatulevu, vua na Turaga na Tui Nadi and pay my respect to their Chiefs past and present, as well as to emerging leaders and members of the Vanua o’ Navatulevu who may be present here this morning. I acknowledge their role in caring for the Vanua.
I am very pleased to warmly welcome the Rt. Honorable Christopher Luxon, Prime Minister of New Zealand to this Joint Conference of our two Business Councils.
I also warmly welcome Members of the New Zealand business delegation visiting Fiji this week.
Cola Vina and a very warm welcome to Denarau and Fiji!
A year ago, I addressed the New Zealand-Fiji Business Council in Auckland.
My message then, as it is today, is that Fiji is your best bet for a guaranteed return of investment under the watch of the Coalition Government!
I am glad you heard me when I said that and am gratified to see you here today in numbers. This shows your confidence in Fiji and I am heartened to see such a great turnout at this Joint Conference, testament to the close relationship between Fiji and New Zealand.
I hope your meetings this week in Fiji have been productive because I assure you the Coalition Government is serious about making your investment in Fiji worthwhile by cutting through the bureaucracy and red tape.
Ladies and Gentlemen, Fiji and New Zealand have always been natural partners – sharing a common history encompassing heritage, culture, sport, business and education. Our friendship reflects a common Pacific identity with strong people-to-people links.
New Zealand is also home to a large Fijian diaspora. Their contributions to Fiji through remittances and investments have a positive impact on our economy while at the same time contributing positively to New Zealand’s economy.
New Zealand has always been a significant market for Fiji, comprising the second largest share of all tourists visiting our shores.
In 2023, Fiji welcomed 220,963 visitors from New Zealand, exceeding 2019 levels by seven percent (7 %).
From January – April this year (2024), Fiji has welcomed 53,331 visitors from New Zealand.
This is 12% higher than the same period in 2023 and the highest ever on record.
Despite suffering the deepest pandemic-induced recession among Pacific Island countries and fourth worst globally, Fiji led the Pacific’s recovery as the first in the region to reopen its cborders.
Our GDP grew by 20% in 2022 and 8% in 2023, buoyed by demand in tourism.
Fiji reached pre-pandemic output levels in 2023—one year earlier than expected. Ladies and Gentlemen, our bilateral relationship
is encapsulated in our Duavata Partnership.
Duavata means Unity of Purpose in Vosavaka Viti.
This week Prime Minister Luxon and I have agreed on a review of the Partnership and our shared targets under its 5 pillars, namely:
Democracy & Values,
Economic Resilience,
Security,
Social well-being, and
Climate Change and Resilience.
Our officials are coordinating high-level consultations for the review, and I look forward to finalization of a renewed Partnership Agreement soon.
As members of a ‘family’ Fiji and New Zealand stand shoulder to shoulder to foster our common interest at all times.
Ladies and Gentlemen, Prime Minister Luxon and I have also agreed this week that the target for business between Fiji and New Zealand is two billion dollars by 2030.
Currently, our trade relationship is at a record high.
Two-way trade between our two nations has grown by more than 38 percent in the past year, to NZ$1.36b.
New Zealand’s exports to Fiji have grown by more than 34 percent to NZD$838 million.
However, Fiji’s exports to New Zealand have grown even more impressively, by 45 percent, to NZD$516 million.
By all measures, these have broken all historical records.
It is important to note too, that our trade is spread across a range of sectors, from travel and tourism services through to food and beverage products as well as manufactured goods.
Fiji is one of New Zealand’s largest global markets for these sectors.
I also want to commend the opening of New Zealand’s Pacific Trade Commission in Suva which affirms Fiji’s role as a major trade and economic hub for the region.
Ladies and Gentlemen, please allow me to make a few comments about the New Zealand business mission here this week, which includes a record number of participants.
It reciprocates the equally record-breaking trade mission led by Deputy PM Kamikamica to New Zealand last year, which has helped drive trade between our economies.
In this regard, I want to emphasise the mutual benefits derived from our strong trade links and economic co-operation.
Trade enables us to ensure that our people and our businesses have access to the best quality goods and services at the best possible prices.
Often we talk about trade only in terms of exports.
However, the reality of global commerce, is that we live in a world of global value chains. That means that many items we import are often included in what we then sell on to others.
For example, a premium New Zealand wine exported to Fiji is often on-sold as part of a world class tourist experience, adding value to our own economy along the way.
And there are a number of New Zealand companies that have invested in Fiji over the years, creating jobs while also
producing some of the world’s greatest goods and services.
This includes iconic brands and companies like Anchor or Fletchers – which are household names here in Fiji.
We also note some new players like Douglas Pharmaceuticals – making some of the world’s most sophisticated nutraceutical products right here in Fiji.
Or digital businesses like New Zealand companies such as Streamline – one of the forefathers of Fiji’s BPO industry.
As well as newer players represented on this delegation such as Duco Consultancy.
I also acknowledge Fijian businesses who invested in New Zealand and are now bringing back their expertise and capital to reinvest in the Fiji economy.
We all know of the giants of industry such as the late YP Reddy. We also acknowledge newer Fijian investors here today.
We are proud to see the success you have achieved in New Zealand and seeing you return to Fiji to re-invest here.
While you are here today, I want to encourage you to consider local production in Fiji to reduce reliance on imports and mitigate the impacts of supply chain disruptions.
As an example, our largest industry, tourism, requires a steady flow of goods. Supply chain disruptions can limit the availability
of supplies impacting the overall quality of the tourist experience.
Such shortages can be met through collaboration with neighboring countries to build more resilient regional supply chains.
I am sure that discussions at this Joint Conference will see more opportunities for collaboration and mutual benefit.
In closing, I extend my appreciation to Mr. Chandra Sen and the New Zealand Fiji Business Council and to Mr. James Trussler and the Fiji- New Zealand Business Council.
I wish you all the best for your businesses and may you prosper and be of good health for many years to come!
I now have much pleasure in yielding the floor to the Right Honorable Prime Minister of New Zealand to deliver the keynote address to open this Joint Conference.
