New Zealand yachts and other vessels remain the largest export item to Fiji with a value of $NZ49.6million ($F78.61m), says Fiji New Zealand Business Council vice-president Nigel Skeggs.
The managing director for Port Denarau Marina said the trade statistic for New Zealand goods exports to Fiji for the 12 months ending June 2013 were recently released and confirmed significant growth in the import to Fiji of yachts and vessels out of New Zealand.
“For the third year running, New Zealand yachts and other vessels is still the largest export item to Fiji for the June 2013 year — an increase in value of more than 54 per cent on 2012,” he said in a statement.
“This is very encouraging news for the maritime sector in Fiji, which is concurrently showing significant growth in the small yacht and super yacht arrivals, which is a seasonal market for Fiji.
“With an increase in locally-owned vessels to Fiji, opportunities arise for further investment and development of the industry as a whole.”
Mr Skeggs said growth seen over the past three years was a direct result of the government’s commitment to building the maritime sector by reducing the duty rate on imported vessels from 32 per cent to a concessionary rate of 5 per cent in 2010.
He said this was a good example of forward thinking and understanding how the industry could drive growth.
“Not only is this growth pumping significant money into local businesses, the government has also seen growth in the collection of duty,” he said.
“For example, the duty rate in 2010 of 32 per cent generated $3.851m from New Zealand imported vessels alone.”