Business

Fiji targets export growth to cut trade deficit

August 20, 2024 6:53 am

Aerial shot of Fiji Port

The Trade Ministry is intensifying efforts to boost export opportunities to reduce Fiji’s significant $1 billion trade deficit with Australia and New Zealand.

Trade Minister Manoa Kamikamica sheds light on the ongoing collaboration with key stakeholders to promote products like kava, ginger, and turmeric in international markets, aiming to increase export revenue.

He also emphasizes the importance of import replacement strategies to strengthen Fiji’s economic position and achieve a greater trade balance.

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“We already have good rice production happening, and potentially there are opportunities to reduce the rice bill, we are starting to grow a lot better vegetable variety, so some of the imported vegetables we might not need anymore, we have quite a few investors coming in to do vegetables, Grace Roads is one, but there are some others that are expressing interest.”

Kamikamica adds this aims to improve Fiji’s trade balance and support long-term economic stability.