Prasad updates Australian Minister on economic progress

December 5, 2023 2:36 pm

Finance Minister, Professor Biman Prasad [left] with Australia’s Minister for Trade and Investment Cameron Dick [Source: Fiji Government/Facebook]

Finance Minister, Professor Biman Prasad has updated Australia’s 51st Treasure of Queensland and Minister for Trade and Investment Cameron Dick on Fiji’s economic progress in the last nine months.

Prasad says after a strong 20 percent growth last year and a further eight percent projected for this year, the economy is on a path to full recovery.

However, the Deputy Prime Minister says Fiji has been experiencing a major challenge with outward migration, losing over 10 percent of its labour force in the last one and a half years.

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Prasad says this is putting a strain on both private and public sectors and Government has been looking at immigration measures and some quick TVET training to beef up the capacity in the labour market.

He emphasizes that Fiji believes in regional solidarity which is the only way to address new challenges in the region, like geo strategic competition, and climate change.

He says there is a need for development partners to focus on investment in regional public goods with widespread benefits for the Pacific people.

During the meeting in Brisbane, Australian Minister Dick reaffirmed the close relationship and continuing cooperation in areas including agriculture, industries, and businesses and how Queensland’s Pacific Trade Strategy will continue to grow and shape relationship moving forward.

Prasad is in Australia to deliver the keynote address at the 2023 Australasian AID Conference at the Australian National University in Canberra tomorrow.

The AAC is the primary annual conference in Australia focusing on aid and international development policy.

This is first time a leader from Pacific Island Countries has been invited to deliver the opening remarks at the Conference.