Prior to the COVID-19 pandemic, Fiji had a trade deficit of $3 billion, says Attorney-General Aiyaz Sayed-Khaiyum.
Speaking during the Indo-Pacific Business Forum that was organised by the United States government and the US Chamber of Commerce yesterday, Mr Sayed-Khaiyum said this was equivalent to about 27 per cent of the gross domestic product (GDP).
Mr Sayed-Khaiyum said there was a need to address issues which were stumbling blocks to Fiji’s trade opportunities.
He said there were a lot of goods that could be imported from the United States.
“We need to be able to address issues such as biosecurity and create pathways which I think is critically important,” he said.
“Being able to maintain the integrity of our respective ecosystems and having free trade is critically important.
“The second aspect of course in trade is to look outside the box, you know from the Fijian perspective, of course — our exports.
“So we want to be able to increase our exports, but the imports will significantly decrease this year because of course there’s less demand for goods and services.
Meanwhile, US ambassador to Fiji, Kiribati, Nauru, Tonga and Tuvalu, Joseph Cella said the embassy was honoured to host the forum as it was an opportune time to let the world know that the Pacific was open for business.
The panel members also included the Kiribati high commissioner to Fiji, David Teaabo, Nauru high commissioner to Fiji Michael Aroi and Tuvaluan high commissioner Temate Melitina.
