[File Photo]

Cabinet has approved the implementation of the Interim Economic Partnership Agreement and the removal of duties on certain goods coming from the European Union countries.

This decision is part of Fiji’s ongoing commitment to IEPA, an agreement that aims to boost 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 a 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 vessels, process it locally, and then export it to the EU without any import taxes.

This will greatly benefit Fiji’s fishing industry and boost exports.

The implementation of IEPA was approved in the cabinet meeting held yesterday which was chaired by Acting Prime Minister Viliame Gavoka.