THE Indo-Pacific Economic Framework (IPEF) will help deepen the the Vuvale partnership between Fiji and Australia given that the two countries are members of the relatively new trade pact.
Australia’s Assistant Minister for Trade and Assistant Minister for a Future Made In Australia Tim Ayres said in his speech at the 2024 Fiji-Australia and Australia-Fiji Joint Forum in Suva that as the world now grapples “with rising geopolitical tensions, conflict and a very real possibility of a global recession,” the collaboration of nations was ever more crucial.
And engagement through trade pacts such as IPEF provided a new path to addressing those challenges.
“Through IPEF we can develop smart solutions for supply chain resilience, the clean energy transition, digital trade and ending corruption,” Mr Ayres said.
“I welcome Fiji’s participation and leadership in IPEF and it shows the greatness in Fiji’s standing as an important player in the Indo Pacific region.
“Australia’s $25billion IPEF Fund for technical assistance and economic cooperation will support Fiji implement IPEF’s ambitious standards including on supply chain resilience, the transition to NET Zero, combatting corruption and bringing in foreign investment.”
IPEF was launched by US President Joe Biden in 2022 and Fiji is the only member from the Pacific. Mr Ayres said he was also “delighted to hear of Fiji’s renewed interest in PACER-Plus.”
“Engaging with PACER-Plus will allow Fiji to play a greater leadership role in regional trade and economic integration.
“We stand ready to support Fiji’s decision making and evaluation process and the consultation process. We’re here to support Fiji’s nation building priorities through quality, sustainable and transformative infrastructure development as well.
“The Australian Infrastructure Financing Facility for the Pacific is a prime example of our investment in the region’s future.
“The initiative is already making significant progress, particularly in transforming infrastructure development which is crucial.”
Mr Ayres said the Government to Government, Business to Business, People to People relationships already forged between Australia, Fiji and the Pacific “is a deep and binding relationship that will go from strength to strength.”
