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Fiji Time: 12:50 PM on Friday 25 April

/ Front page / Business

Trade scope widens

Sherita Sharma
Saturday, November 17, 2012

THE opening of Fiji's embassy in Seoul, Korea has widened the scope of trade and investment between the two countries.

Speaking at the Fiji-Korea Business Forum and Catalogue Exhibition on Thursday, Fiji Revenue and Customs Authority chief executive officer Jitoko Tikolevu said the establishment of the mission was symbolic of government's commitment to actively engage with the international community.

"As international trade continues to increase and Fiji's economy continues to expand, the Fiji government is committed to ensuring that transparency, stability and integrity form the foundations of our economic development," Mr Tikolevu said.

He said this had contributed to investor confidence by foreign businesses in Fiji.

The embassy was opened in July this year to open up trade and investment opportunities and encourage closer relations.

Fiji has had diplomatic relations with Korea since 1971.

"Fiji and Korea have had a close relationship for more than four decades and in that time Fiji greatly benefitted from technical and developmental assistance provided by the government of the Republic of Korea," he said.

"There are many more incentives through duty concessions that are available to investors, not to mention tailor-made incentive packages to suit your investment needs," he said.

Mr Tikolevu also said the Fiji government recognised the economy's development was catalysed by investment.