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Fiji Time: 6:19 AM on Sunday 20 April

/ Front page / Business

Korea ties

Sherita Sharma
Friday, November 16, 2012

FIJI'S business sector has the opportunity to look beyond traditional trading markets with the strengthening of ties with Korea.

Speaking at the second Fiji-Korea business forum at Holiday Inn in Suva yesterday, Korean ambassador to Fiji Hae-wook Cheong said trading with Korea would give Fiji more opportunities.

"I would like to see more business people in Fiji to look beyond traditional trading partners and to exploit what Korea can competitively offer in general merchandise items, machinery and IT products in particular," Mr Cheong said.

He said by exposing the Fijian market to more competition would not only lower prices, but it would also boost sales and increase consumers' welfare.

"This business forum was conceived and initiated as an endeavour to provide a momentum to explore trade and investment potentials among business people of our two countries," Mr Cheong said.

He said he believed that Fiji and Korea's industrial structures were complementary in nature and there was a lot of potential for economic partnership.

"To be more specific, Korea's strength in manufacturing and marketing of high-tech products bodes well with Fiji's strength in primary industries and service sector," he added.

Investment Fiji chief executive officer Ravuni Uluilakeba said it was important to consider Fiji for investment because of its location and business incentives.

"One question is why should people invest in Fiji. It's important because it's the regional hub of the Pacific," he said.