On June 16, 2021, Ausmate Group signed a strategic cooperation agreement with PACIFIC SILK ROAD HOLDINGS (FIJI) PTE LIMITED to establish a branch of Ausmate Group in Fiji. This cooperation includes international business resource matching and monetization projects, commodity and agriculture related trade, cultural and tourism related projects and various forms of investment projects. Both parties will jointly participate in the Fiji Trade Project Cooperation Alliance, jointly develop business in the international and Chinese markets and assist each other in expanding import and export business in the international market. Based on the sharing of business information and opportunities, we will work with the Fiji government to develop the local market for mutual benefit.
Fiji is basically a free-trade country with relatively lax import and export controls. Governor of the Reserve Bank of Fiji and Chairman of the Macroeconomic Committee Ali said Fiji's economic growth is expected to rebound by 11.3 percent in 2022. Analysis indicates that Fiji's economic recovery in 2022 will be driven by the relaunch of international tourism and the resulting positive spill over effects on other sectors of the economy, including accommodation and restaurants, transport and warehousing, finance and insurance, wholesale and retail, manufacturing, and agriculture. Fiji reopened its borders in December 2021, and visitor arrivals are tentatively expected to rise further to 85% of 2019 levels by 2023 and to return to pre-outbreak levels by 2024. The upward revision of visitor forecasts has a positive ripple effect on wholesale and retail sales, accommodation and transportation, and overseas investors. This cooperation will further strengthen the credit mechanism between Chinese and Fiji enterprises, reduce logistics costs and time, mitigate trade settlement risks, and create greater profit margins for import and export trade between Chinese and Fiji enterprises.