10 May 2013

MSG forecasts significant growth in intra-MSG trade for 2013-2014

10:38 am on 10 May 2013

The Melanesian Spearhead Group says it's forecasting significant growth in intra-MSG trade for 2013 and 2014 based on statistics and positive developments.

The Permanent secretary for Industry and Trade in Fiji, Shaheen Ali, says the period from 2005 to 2009 saw a substantial increase of intra-MSG trade exports rise by more than 300 percent.

Mr Ali says Fiji's total trade with the Pacific Island countries has increased from less than one per cent in 2000 to 4.5 per cent in 2010.

He added during the opening of the three-day MSG Trade and Economic Officials on Thursday, that about 45 percent of this trade is now with MSG countries.

Mr Ali says MSG trade and economic officials need to work towards a common economic union, which is tailor-made to take into account the group's unique characteristics.