SPEECH BY THE MINISTER FOR TRADE HON. FAIYAZ KOYA AT THE OFFICIAL LAUNCH OF THE FIJI-NEW CALEDONIA E-TRADE EXPO

French Embassy Chargè ďAffaires, Mr Rene Consolo,
New Caledonia Representative to Fiji, Ms Rose Wete,
CEO Investment Fiji, Mr Craig Strong,
Excellencies,
Distinguished Guests,
Ladies and Gentlemen,

Bula Vinaka, Bonsoir and a very Good Afternoon to you all.
 
I am pleased to join you this afternoon for the Official Launch of the Fiji-New Caledonia E-Trade Exposition, and delighted to see the turnout.
 
This is, of course, one of the many initiatives undertaken jointly by Fiji and New Caledonia to develop bilateral relations and enhance partnerships. You would recall that the 2019 Fiji-New Caledonia Business Forum, highlighted the significant untapped economic potential that exists between our countries.
 
Whilst a reciprocal Mission to New Caledonia has been side-tracked due to the pandemic, today’s event demonstrates that we are continuing to build on this foundation, for successful business collaborations.
 
Excellencies, Ladies and Gentlemen,
At the end of 2019, no one could have foreseen the millions of infections and deaths from the deadly COVID-19 pandemic that brought global lockdowns and shuttered large number of businesses.
 
The restoration of cross-border trade and investment is undoubtedly vital in driving a global economic recovery. A return to trade and investment-led growth will hinge on creating enabling conditions for businesses to thrive.
 
This is why the Fijian Government has pushed out many support initiatives for businesses to tide through this challenging period - ranging from restructure of billions of dollars of loans, introduction of Concessional Loans for Micro, Small and Medium Enterprises (MSMEs), to tax and duty reforms. A number of business trainings, mentoring, advisory and incubation services have also been provided.
 
Excellencies, Ladies and Gentlemen,
We are not letting the border closures hamper the determination we have, in terms of making Fiji the ideal investment destination. In fact, during this period, we have expedited and prioritised reforms so that Fiji continues to be a competitive and preferred trade and investment destination.
 
The Fijian Government is undertaking reforms, which includes legislative reviews, especially modernisation of the investment law, streamlining and digitalisation of approval systems and processes.
 
As the Minister responsible for trade and investment, I’m personally involved in the helm of all the on-going changes. I’m proud to say that Fiji is one of the pioneering Pacific nations, engaged in such rigorous reforms to realign and move towards digitalisation.
 
The Fijian Government has set the path to create a sustainable economy. An economy, which is able to accommodate a dynamic private sector and investors, facilitate capital and new technology, support diversification into new sectors, which feed into the global value chain.
 
Excellencies, Ladies and Gentlemen,
There is one important reality that we must come to terms with now -- we are not returning to a pre-COVID world. We should not be preparing for “business-as-usual”. Or preparing to return to the good old normal. Now is the time to build a new economy and transform to create the right opportunities for our businesses and people.
 
Today, we are seeing a dramatic growth in the use of digital technologies, as said by the President of the World Economic Forum, the world in the first 2 months of the pandemic, leaped 5 years ahead in terms of digital uptake.
 
These have proven extremely useful for our businesses, helping them to respond nimbly to the severe disruption caused by COVID-19. It has given businesses greater visibility and control over their operations, allowed them to develop new business continuity plans and reorganise themselves better for resilience.
 
It has also reduced face-to-face interactions, to safeguard people’s health and well-being. E-Trade Expos such as this, have enabled businesses to offer their products and services, and access markets even without having a physical presence. So, if we take a step back and see, this COVID-19 crisis is in fact a catalyst. And we must not waste any time in seizing the opportunities it presents.
 
Excellencies, Ladies and Gentlemen,
Having said all of the above, I have given you an idea of what Fiji has to offer.  However, it is important to formalise our trade and investment linkages to grant businesses predictability and certainty.
 
Hence, the Fijian and New Caledonian Governments have initiated preliminary discussions on a bilateral trade agreement, which we will need to explore further.  We need to create a pathway for both, the Fijian and New Caledonian businesses, to trade freely.
 
I firmly believe that this E-Trade Expo is a pinnacle of working in collaboration to create a win-win situation. Our presence here today, illuminates our strong partnership and commitment towards re-defining our relations.
 
It demonstrates that we are forward-looking in terms of creating the enabling conditions required to support our businesses in transiting to a better future.
 
With these few words, I now launch the Fiji-New Caledonia e-Trade Expo.
 
Vinaka Vakalevu.
Merci beaucoup.