Friday, 31 March 2017

Pacific Trade Investment Australia has announced key results from its survey

THE Pacific Trade Invest (PTI) Australia has published [PDF, 1.87 MB] findings of the Pacific Islands Export Survey.

The survey, conducted by ACA research, examines export dynamics in the Pacific Islands.
Trade and Investment Commissioner, PTI Australia Caleb Jarvis said the survey provides an important snapshot of exporters from the Pacific Islands.

“There continues to be a lack of private sector data from the Pacific Islands. It’s extremely valuable to have these results which build upon findings from the inaugural 2014 survey. We can now start to track trends in the industry and this data assists both private sector and Government’s to make informed decisions on how to stimulate growth in the export sector.
This report is currently the only major survey of internationally active Pacific Island businesses. The report is based on data from Pacific Island export companies from 12 Pacific Island countries, operating in over 30 international markets.

Secretary General, Pacific Islands Forum Secretariat, Dame Meg Taylor reiterated the importance of survey results.

“For so long, we have depended on anecdotal data to analyse our business community’s participation in global trade and regional value chains. I commend the efforts of PTI Australia and our partners for this achievement, which will inform evidence based decision making, and increase investor confidence.
              I am optimistic that a stronger private sector in the Pacific will be a catalyst for equitable economic development and a driver for deeper regionalism. Our business community is growing every day. Its commitment to entering emerging and non-traditional markets is impressive and will drive further economic integration and development.

“The Secretariat is committed to continued support for the establishment of a business enabling environment, the involvement of the private sector in decision making, and empowering women engaged in cross-border trade.” 

Key findings:
  • The proportion of businesses benefiting from Free Trade Agreements and Closer Economic Partnerships has increased since 2014.
  • Although the total volume of exports has grown from the 2014 survey, the number of countries exported to has decreased.
  • Exporters still face numerous barriers. A major challenge for exporters is obtaining finance/capital with two in three exporters stating this as a concern, this issue is more prevalent for newer exporters.
  • Export confidence is very positive and continues to grow with three in four businesses predicting that their export orders will increase over the next 12 months.

Image: RNZI


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