Council builds a business bridge

Fiji’s business relationship with Austra lia has been strengthened by the forma tion of the Australia Fiji Business Council.

The council’s first meeting in Sydney heard that some 32 companies had indicated positive interest. The same meeting agreed on an interim budget and executive committee.

The council aims to foster friendship and understanding between the two countries as well as trade.

Support for trade, investment, techni cal and economic co-operation and tour ism are also high on the priorities list.

The council also intends to encourage educational and personnel exchanges and private sector training schemes.

It will be a lobby, too, that can ensure that both governments take the needs of the private sector into account when making policy.

There will also be a “mirror” group to be based in Fiji and this will maintain regular contact with the Sydney council along much the same lines as the PNG Australia Business Co-operation Council which has been operating for the past three years.

An inauguration dinner for the council was held in Sydney on May 1 and was

attended by prime minister Ratu Sir Kamisese Mara.

Fiji’s economy is highly trade oriented.

Westpac’s country report has sugar accounting for between 55 and 60 per cent of export earnings (though the 1985 cyclones badly affected the harvest).

Fiji also exports substantial amounts of gold, timber and canned fish, with tourism also a major export activity.

Fiji’s trade with Australia showed a heavy imbalance in Australia’s favor in 1984/85.

Australia’s exports to Fiji mainly petroleum and related products and cereals stood at U 55160.2 million with imports from Fiji gold and fixed vegetable oils and fats at US$4O.l million.

With recently improved access for Fiji’s garments, however, a small correc tion may be expected for 1986.

The UK, on the other hand, is still Fiji’s major export destination, taking 29 per cent of output in 1984.

However, this picture is gradually changing with the UK share declining as Australia’s slowly increases.

Australia accounted for 13.7 per cent of Fiji’s exports in 1984.