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

Main focus of the presentation – Cook Is, Fiji, Micronesia, PNG and Samoa

The Pacific is a services oriented economy Island type – mainly coral & volcanic islandsMajor division – Melanesian, Micronesian and

PolynesianLand 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

Population – 20 thousand – 5,800 thousandGDP per persons (US$) – 695 - 7549Literacy 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

Melanesia (Fiji & PNG)

- mineral, mining, forestry, oil deposits,

agriculture, fisheries and aquaculture &

tourismPolynesia (Cook Is & Samoa)

- agriculture,fisheries and aquaculture & tourismMicronesia (FSM)

- fisheries

Investment environmentDeveloping infrastructure/High costDeveloping financial marketReforming legal and regulatory systemsReforming state-owned enterprisesWorking with the private sector to build

dialogue & capacity

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 materialsLow corporate tax rate Investment allowanceGovernment policy conducive to investmentPrivate sector investment drives economic growth

Economic PoliciesPacific plan to strengthen regional

cooperation and integration – October 2005

Look North PolicyPacific 2020 (published in May 2006)Establishment of IT Park in Fiji

Success Investment StoriesFiji - Mineral Water - BPO

- Tourism

Samoa - Tourism,Agriculture

Cook Islands - Pearl industry, Tourism,

Agriculture

PNG - Mining, Coffee

Micronesia - Tourism, Fisheries

ChallengesHigh transportation costRemoteness/Market sizeUnemploymentGeographical location/remotenessMarket accessInvestment – Implementation period

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

THANK YOU

E-mail - waradit@yahoo.com (Fiji)

- belinda.filo@mcil.gov.ws (Samoa)

- tourfm@yahoo.com (FSM)

- sylviatgeorge@cidib.gov.ck (Cook Is)

- yavey@ipagov.pg (PNG)