Fiji’s cabinet has approved the implementation of the Interim Economic Partnership Agreement (iEPA) with the European Union (EU) and decided to remove duties on certain goods from EU countries.
This move is part of Fiji’s ongoing commitment to the iEPA, a trade agreement designed to enhance trade and strengthen economic ties between Fiji and the EU.
Fiji is already reaping the benefits of the iEPA, which provides duty-free and quota-free access for Fijian exports to the European Union market. This arrangement helps boost Fiji’s exports by allowing Fijian products to enter the EU markets without import taxes.
With the removal of duties on European products, Fijian consumers and businesses will have better access to high-quality goods from the EU, including advanced technology and machinery, that will help improve the quality and efficiency of production in Fiji.
Fiji will now start dialogue with the EU to explore other export opportunities, including the activation of the “global sourcing provision” under the iEPA.
Once activated, this will allow Fiji to utilise fish caught by foreign country fishing vessels, process it locally, and then export it to the EU without any import taxes. This could greatly benefit Fiji’s fishing industry and boost exports.
