Fiji and the Pacific have a narrow resource base and limited opportunities for diversification.
Ministry of Commerce and Trade Permanent Secretary Shaheen Ali says economies of scale cannot be achieved easily by our small businesses which are a large part of our regional economy.
He adds fluctuations in global commodity prices and the high cost of freight continue to leave our profit margins razor-thin, limiting our engagement in international trade.
Speaking at the Forum Trade Ministers Meeting, Ali highlighted the need for the region to show commitment by ratifying the partial agreement on Fisheries Subsidies as early as possible.
This he adds will greatly benefit Fiji and the region.