Singapore and Fiji

MEDIA RELEASE: FIJI AND SINGAPORE TALK TRADE, INVESTMENT AND COOPERATIVES DEVELOPMENT

The Fijian Minister for Industry, Trade and Tourism, Hon. Faiyaz Siddiq Koya and the Permanent Secretary, Mr. Shaheen Ali met with the Singaporean Ambassador to the Pacific H.E. Verghese Mathews on Monday 29 June, 2015 in Singapore.

The meeting was to discuss growth of economic, trade and investment relations between the two countries. Specific areas of cooperation that were discussed included, cooperatives and small and medium enterprise development, business to business initiatives and investment facilitation.

“Singapore has a well-functioning and globally-renowned Economic Development Board, which plays the same role as the Fijian Investment Fiji. The Fijian Government has undertaken significant steps to improve foreign investment facilitation. Hence, working with the Economic Development Board of Singapore will provide impetus, to our own reforms, to increase the efficacy and efficiency of Investment Fiji to attract even more Foreign Direct Investments and look into ways we could do things differently to grow foreign direct investments,” Minister Koya said.

“Furthermore, Singapore also has a strong cooperatives and small and medium enterprise base, which Fiji can draw examples from as we are in the process of amending the Cooperatives Act, re-organising the Cooperatives Department and establishment of the National Cooperatives Federation.

“Cooperation with Singapore comes at an opportune time with Fijian Government initiating comprehensive reforms and putting in place progressive and attractive policies for both domestic and overseas businesses to take advantage of and flourish.

“The Permanent Secretary for Industry, Trade and Tourism will lead discussions with relevant Singaporean authorities on a proposed Fijian Government-led mission, with key agencies and stakeholders to Singapore later in the year. This mission with formalise the discussions that have been initiated,” Minister Koya said.

The meeting was also attended by the Fijian Ambassador to Indonesia, H.E. Ratu Tui Cavuilati and officials from the Ministry of Industry Trade and Tourism.