Pacific Trade Invest

Freight Assistance grant reopens

The initiative provides all eligible Pacific exporters assistance towards freight costs incurred in the prior 6 months with grants of up to a maximum of A$2,500 per enterprise on a 50/50 cost share basis awarded to successful applicants.

Informed by PTI Australia’s Pacific Islands Export Survey 2020 report which revealed that freight costs were one of the top three barriers to export faced by Pacific businesses, PTI Australia’s COVID-19 Freight Assistance Package was launched later that same year and since then, has seen over 40 successful applicants receive the monetary grant.

Economic recovery ongoing

The 15 Pacific Trade Invest (PTI) Pacific Business Monitor reports that sentiments among the Pacific business decision-makers remain critical and expected timelines for economic recovery are shifting back.

The recent July survey reinforced this ongoing severity with 84 per cent of respondents reporting a negative impact

Of Pacific respondents 33 per cent were from the tourism industry, 21 per cent were from the agricultural, forestry and fishing industry and 10 per cent were from the manufacturing industry.

Survey shows increasing optimistic outlook in Pacific businesses

Since tracking began in May 2020, between 84 and 92 per cent of respondents have consistently reported negative impacts on their business due to COVID-19. This month’s survey saw that to decrease to 79 per cent.

In line with this improving outlook, the February survey reports the lowest percentages yet of perceived negative impacts on local economy (decreasing from 90 per cent to 88 per cent) and reported decline in revenue (decreasing from 86 per cent to 81 per cent).

Small Pacific businesses continue to feel brunt of COVID-19

The monthly survey collects data in real-time and tracks how SMEs have been riding through the socio-economic turbulence since the pandemic made contact in the region in April 2020.

Newly appointed Trade Commissioner of the Pacific Trade Invest New Zealand office, Glynis Miller said “the results are not surprising as they do reflect real challenges faced by a large majority of SMEs.”

From data gathered in January, the fiscal and emotional impact of not knowing when the crisis will abate is taking its toll.

91% of Pacific Businesses affected by COVID-19

Fiji has been particularly hard hit by the crisis (93% reported a significant decline in sales/revenue).

Bringing the Pacific into view for Chinese tourists

PTI China’s Beijing based Tourism Manager Vivienne Song organised an itinerary for the film crew that has included Fiji, Papua New Guinea, Vanuatu, Tonga, the Federated States of Micronesia (FSM) and Samoa, supported by the National Tourism Organisations in each country.

Travelling with the film crew is Arthur Chance, the famous world traveller TV host with more than one million followers on China’s social media platform Weibo (China’s equivalent to Twitter).