FTIB Newsletter
Vanuatu Mission a Success
The Fiji Islands Trade and Investment Bureau (FTIB)-organized trade mission to Vanuatu translated into FJD$210,400 of confirmed orders, and according to reports from the Fiji participants three weeks later, negotiations and orders still continue.
For the mission leader, FTIB chief executive Jesoni Vitusagavulu, the mission succeeded in raising the awareness of businesses in Port Vila about the range of products which can be sourced from Fiji.
Fourteen Fiji companies were represented and met with 40 Vanuatu companies. For the majority of the participants, it was their first time in Vanuatu and the establishment of contacts who would distribute their products was their priority.
"Vanuatu's potential as an export market for us stems not only from its sizeable population of 183,000 with an enclave of an affluent community, but also from the opportunities presented by the Melanesian Spearhead Group agreement, and now PICTA (Pacific Islands Countries Trade Agreement)," Vitusagavulu said.
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The companies represented included Ba Industries, Jack's Handicraft, Lotus Garments Ltd, Mechanical Services Ltd, Orica Fiji, Overalls & Raincoat Manufacturing Co Ltd, Pacific Fishing Co Ltd (PAFCO), Desai Industries, Patel Garments, Poly Products (Fiji) Ltd, Popular Furniture Ltd, Punja & Sons Ltd, Save Trade Marketing Corp Ltd, Sharma's Enterprises Ltd, and Subrail's Furniture Joinery.The mission was from 11-18 August. "I¹ve returned even more convinced that our efforts to increase export to the Pacific has considerable merits," Vitusagavulu said.
"We must remain relentless with the Pacific Push!."
Mission coordinator Parnam Singh said that when he compared products Vanuatu imported from Australia, Fiji products are more competitive in terms of quality, costs, and in shipping rates.
FTIB will be mounting a similar mission to Papua New Guinea this month. Other developments:
- Nittetsu Mining Co Ltd, a Japanese owned company that was granted FTIB
approval on October 18 last year to establish a branch operation in Fiji,
has begun exploration works in Namosi.
Nittetsu Mining Company Ltd is a Japanese-based exploration and mining company, having over 100 years experience in the mining industry. The company has offices in Japan, Australia and Hong Kong.
- Another garment manufacturing company, Leisurewear (Fiji) Ltd, has opened up in Nausori under Tax Free Factory status.
Like most other companies, Leisurewear's proprietors, Kalpesh and Sachin Solanki, took advantage of the Government's decision to lift the moratorium on Tax Free Factory/Tax Free Zone approvals until 31 December last year. That measure was deliberately taken by Government and administered by the Fiji Islands Trade and Investment Bureau to re-invigorate investments not only by existing operations but also new enterprises.
The granting of TFF/TFZ status means that at least 70 percent of the company's products are to be exported, or sold to another Tax Free Factory in Fiji.
