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Economic Integration Essay

412 words - 2 pages

Fiji is not economically integrated with the United States. Fiji is a signatory under the European Union (EU) that grants non-reciprocal trade preferences to the countries in the ACP states. Fiji is a part of the SPARTECA a non-reciprocal preferential agreement. It covers the FIC, Australia and New Zealand. Fiji, however has sold 13.3% of their export to the United States. Fiji being a part of the regional integration EU has a RTA with EU- Papua New Guinea, MSG, PICTA and SPARTECA. Most of Fiji’s raw materials are imports. The country’s imports of GDP has had an increase from 2003 to 2008 of 58.9% but they had ...view middle of the document...

“Fiji has suffered preference erosion from multilateral and especially unilateral liberalization, including in clothing exports to its major Australian market, which now accounts for over 80%.”
I pulled this excerpt from the WTO on Fiji’s progress in the trade profile “Fiji's export markets are now more diversified. Singapore displaced Australia, the United States, and the EC as its main destination, accounting for 18.6% of merchandise exports in 2007. Imports are almost entirely from Asia Pacific economies. Singapore, the main source in 2007, accounted for 34.2% of merchandise imports, displacing Australia and New Zealand. Exports are more concentrated on primary products (74.1% of total exports in 2007); the share of agricultural products rose to 50.2%, due mainly to the rise in bottled mineral water offsetting sugar's falling share. Fuel re-exports to visiting ships, aircraft, and other South Pacific islands have increased their share considerably to 23.9% in 2007. The share of manufacturing export fell substantially, to 16.6%, in 2007, due mainly to the almost 50% fall in clothing exports in 2005, which continued to decline to 8% of total exports in 2007. The import share of primary goods rose substantially to 50% in 2007, owing mainly to a greater share of fuel imports of 33.2%. The share of manufactured imports fell substantially to 47.7%. Fiji traditionally runs a surplus on services trade, mainly due to significant surpluses on tourism.”

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