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CARIBBEAN & PACIFIC ISLAND COUNTRIES INVESTMENT POLICIES. XIAMEN INTERNATIONAL CONFERENCE & EXHIBITION September 9 th ,2006. General Overview of the South Pacific Island Countries. Presenter: Mr. Taito Waradi – President of the Fiji Chamber of Commerce and Industry. Introduction.

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caribbean pacific island countries investment policies
CARIBBEAN & PACIFIC ISLAND COUNTRIES INVESTMENT POLICIES

XIAMEN

INTERNATIONAL CONFERENCE & EXHIBITION

September 9th,2006

General Overview of the South Pacific Island Countries

Presenter: Mr. Taito Waradi – President of the Fiji Chamber of Commerce and Industry

introduction
Introduction
  • Main focus of the presentation – Cook Is, Fiji, Micronesia, PNG and Samoa
  • The Pacific is a services oriented economy
  • Island type – mainly coral & volcanic islands
  • Major division – Melanesian, Micronesian and Polynesian
  • Land mass – 4.1sq km – 21sq km (000’s)
  • Pacific islands countries are still very young nations & can be expected to learn and adapt from time
economic statistics
Economic Statistics
  • Population – 20 thousand – 5,800 thousand
  • GDP per persons (US$) – 695 - 7549
  • Literacy rate (2004 est.)

– 57% - 99%

  • Bureau of Statistics contact

Fiji - www.statsfiji.gov.fj or www.ftib.org.fj

Samoa - www.mof.gov.ws

FSM - www.fsminvest.fm

Cook Is – www.cookislandsstats.com

  • Detailed data is available in the country fact sheet
resources
Resources
  • Melanesia (Fiji & PNG)

- mineral, mining, forestry, oil deposits,

agriculture, fisheries and aquaculture &

tourism

  • Polynesia (Cook Is & Samoa)

- agriculture,fisheries and aquaculture & tourism

  • Micronesia (FSM)

- fisheries

investment environment
Investment environment
  • Developing infrastructure/High cost
  • Developing financial market
  • Reforming legal and regulatory systems
  • Reforming state-owned enterprises
  • Working with the private sector to build dialogue & capacity
incentives
Incentives
  • Sector focused – (tourism,resource based industries)
  • Emerging industries – AVC, BPO,
  • Potential exists in the value adding in agricultural products, fisheries, tourism and wood manufacturing sector
  • Tax exemption on raw materials
  • Low corporate tax rate
  • Investment allowance
  • Government policy conducive to investment
  • Private sector investment drives economic growth
economic policies
Economic Policies
  • Pacific plan to strengthen regional cooperation and integration – October 2005
  • Look North Policy
  • Pacific 2020 (published in May 2006)
  • Establishment of IT Park in Fiji
challenges
Challenges
  • High transportation cost
  • Remoteness/Market size
  • Unemployment
  • Geographical location/remoteness
  • Market access
  • Investment – Implementation period
delivery methods
Delivery methods
  • Trade regimes – 4 components

- Bilateral Trade agreement

- Melanesian Spearhead Group (MSG) trade

agreement

- PICTA/PACER

- Multilateral

  • Look North Policy
  • PIPSO
  • FCCI/CCPIT (M.O.U)
  • Fiji China Business Council being established in Fiji
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