Fiji urges for implementing Pacific Islands Country Trade Agreement
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E-mail Xinhua, September 22, 2012
Fiji urges for implementing Pacific Islands Country Trade Agreement
Suva, Sept. 22 (Xinhua) -- Fiji is calling on the Pacific Islands Forum Secretariat to step up its efforts in implementing the Pacific Islands Country Trade Agreement (PICTA) to benefit all.
The call comes from Permanent Secretary for Trade Shaheen Ali while opening the Fiji Export Seminar in Fiji on Saturday.
Ali says with PICTA, the challenges were almost insurmountable and that the agreement should be implemented or it will be subsumed by other trade agreements such as the Economic Partnership with the EU or PACER Plus with Australia and New Zealand.
The Forum's Island Countries (FICs) agreed to foster and strengthen trade in the Pacific region through the (PICTA).
They had believed that an expansion of trading links among the FICs will bring economic and social benefits and improve the living standards of all the peoples of the Pacific region and recognising the desirability of a clearly established and secure framework of rules for trade under conditions of fair competition in the Pacific region, the FICs have over the years progressed the implementation of PICTA.
The objectives of the Parties to PICTA are to strengthen, expand and diversify trade between the FICs through the elimination of tariff and non-tariff barriers to trade between the Parties in a gradual and progressive manner, under an agreed timetable, and with a minimum of disruption.
The overall objective is to promote and facilitate commercial, industrial, agricultural and technical co-operation between the Parties and further the development and use of the resources of the Pacific region with a view to the eventual creation of a single regional market among the Pacific Island economies in accordance with the respective social and economic objectives of the Parties.
Ali told Fijian media that the country still values PICTA as an essential tool for regional integration and is willing to work with member states and the Forum Secretariat to overcome the challenges.
He says that while the Pacific market is a lucrative one penetration into the market has been slow due to high import tariffs, stringent biosecurity requirements and high freight charges.
On average Fiji exports 105 million U.S. dollars per year to Pacific Island countries which is approximately 10 per cent of the island nation's total exports.
Only a small percentage of this trade has taken place under any regional trade agreement that is currently in place for example 30 per cent of Fiji's export to MSG countries have been under the MSG Trade Agreement.
Fiji's average export to Pacific Island countries for the past five years is 105 million dollars annually which is approximately 10 per cent of total exports.
These figures were revealed by the Ministry of Industry and Trade recently.
Ali said penetration in the Pacific Island countries market has been slow because of high import tariffs, stringent quarantine requirements and high transportation costs.
The FIC Leaders and Ministers have continuously renewed their commitment to PICTA. There are currently seven FICs, namely the Cook Islands, Fiji, Niue, Samoa, Solomon Islands, Tuvalu and Vanuatu that have implemented the necessary domestic arrangements and announced their readiness to trade under the provisions of PICTA. The remaining FICs continue to progress their implementation of PICTA.
The FICs Parties to PICTA that have announced readiness to trade under PICTA commenced benefiting from PICTA preferences since Jan. 1, 2007 says the Forum Secretariat website. Enditem
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