Mohan: Trade value increases to $3b
26 September, 2014, 12:00 am
TOTAL trade between Fiji and the world increased to about $US3billion ($F5b) in 2013, an increase from $US1b ($F1.8b) five years ago and more than double a decade ago, says ANZ Pacific and Fiji CEO Vishnu Mohan.
He said Fiji had increasingly tapped Asian supply chains for trade, adding 43.6 per cent of trade last year was with Asia and the Pacific Islands.
This ratio, Mr Mohan said, had climbed from 25 per cent a decade ago.
“Australian trade with Fiji was nearly $US450million ($F854m) in 2013, however it appears this has been a steady state level as over the past 15 years total trade has averaged $US458m ($F870m) between the two countries.
“There has been significant growth in total trade flows between the markets ANZ has a presence in Asia and the Pacific.
“Total trade flows between the Pacific and Asia have risen from $US1.7b ($F3.2b) in 2000 to almost $US10b ($F18b) in 2013.”
He said the signs of economic health in Fiji were robust, adding the election had removed an enduring geopolitical uncertainty — not just domestically but for international investors and governments.
“Investor confidence in Fiji is strong with the potential to be great in the very near future and beyond.
“ANZ’s own confidence in Fiji was clearly demonstrated in the shift of our Pacific headquarter from Melbourne to Suva in 2013,” Mr Mohan said.