Prime Minister Voreqe Bainimarama has taken steps to boost the trade of Fijian goods and reduce the cost of doing business by depositing the instruments of ratification for the UN Convention on Contracts for the International Sale of Goods and the UN Convention on the Use of Electronic Communication in International Contracts.
The Prime Minister deposited the instruments for both conventions at the UN Headquarters in New York, where his serving as co‑President of the UN Conference on Oceans.
The UN Convention on Contracts for the International Sale of Goods aims to establish a modern, uniform code for contracts governing the intentional sale of goods in order to reduce barriers in international trade and decrease transaction costs.
In effect, under the Convention, two countries can rely upon the laws of the Convention when conducting bilateral trade and avoid disputes over best practise.
The UN Convention on the Use of Electronic Communications in International Contracts aims to facilitate the use of electronic communications in international trade by assuring that contracts exchanged electronically are valid and enforceable.
Bainimarama says both of these conventions bring enormous growth potential to private sector operators in Fiji, as they work to establish more modern and effective governance of trade and business communications between Fiji and our international partners.
He says the Government has already achieved eight consecutive years of economic growth, and our commitment to these conventions will put Fiji on a path to even greater prosperity and economic opportunity for our citizens.
