19 Sep 2007

Chinese bank seeks place in Fiji

10:39 am on 19 September 2007

The China Development Bank wants to set up a branch in Fiji and its officials have visited the country three times in recent months for talks with the Reserve Bank of Fiji.

This has been confirmed by the chairman of the Fiji Trade and Investment Bureau and ambassador designate to China, Sir James Ah Koy.

Sir James says the China Development Bank has huge capital resources to fund big projects and it shows that there are great possibilities for Fiji from the country's Look North policy.

Fiji's interim administration has been looking at strengthening ties with Asian countries.

This was after Australia and New Zealand cut off all defence cooperation and placed travel bans on members of the interim administration, senior public servants, the military and government board members and their relatives.