Establishing Fiji as the hub of the region
Tappoo Group of Companies’ unique business strategy and its significant growth in re-exports was recognised during the Prime Minister’s International Business Awards as the company won the ReExporter of the Year Award. The Award recognises companies that have utilized Fiji’s strategic location in the Pacific and well established sea and air connections to manifest the country’s position as the true hub of the region. The company must have incorporated innovative business strategies in its growth plan that led to its significant progress both in re-export value and volume.
Established in 1941, the Group continues to strive for excellence and has successfully stamped its mark in the local and regional markets. “We have recently ventured into re-exporting business and it has shown strong signs of growth. We are targeting the Pacific market together with New Zealand and Australia,” said the Executive Director of the Group, Kamlesh Tappoo.
The Group is the re-exporter of a number beverages to Papua New Guinea, Vanuatu, Samoa, Tonga and the Cook Islands. Exports to PNG and Vanuatu were under the Melanesian Spearhead Group (MSG) agreement. “We believe that we have successfully established an export market to PNG. We now aim to expand into other countries in the South Pacific region and subsequently to more developed neighbouring countries,” Mr. Tappoo said.
Investment Fiji Chief Executive Officer, Godo MuellerTeut applauded the Group’s commitment towards enhancing Fiji’s position as the trading hub of the pacific.
“Re-exporters play a crucial role in the growth of the Fijian economy. They not only bring in wealth for the nation and create employment opportunities, but also make Fiji the centre of trade in the region. In 2016, Fiji’s total re-exports were valued at more than $814m, which represents 42 per cent of total exports.
Fiji has a positive balance of trade with the Pacific Island countries where reexports were valued at more than $174m or 21 per cent of total re-exports last year,” Mr. Mueller- Teut said. Mr. Mueller- Teut has urged the local businesses to take advantage of Fiji’s central location in the heart of the Pacific as it presents unique opportunities for them to expand their export footprints, especially in the regional markets.