Thursday, 14 July 2016

Fiji: Uncertainty over Brexit impact

The United Kingdom's decision to leave the European Union and the impact this could have on Fiji's sugar exports to the UK and Europe remains uncertain. British High Commissioner to Fiji Roderick Drummond made the statement in response to questions posed to him about possible outcomes or effects of Brexit on Fiji sugar. "The UK remains a member of the EU until UK-EU negotiations are completed, which is likely to take some years," he said. "It is therefore premature to speculate what the UK-Fiji trade regime will be after that point." Local authorities have expressed similar sentiments with Reserve Bank of Fiji governor Barry Whiteside saying Fiji sugar exports to Europe would not be affected by UK's decision to leave the EU. However, he also said, while Brexit would not have any effect in the short term, its impact in the future was still yet to be forecast.