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Fexco Pacific helps fill up grocery shelves. Helping wholesalers and distributors with great rates on cross-border business payments
Apart from tourism, the import and export business of countries in the Pacific Island plays a significant role in the region’s economy despite its remoteness and vulnerability to extreme weather conditions and disasters. The region has a strong potential to develop and expand businesses being situated on the vast Pacific Ocean. In the past few decades, Pacific island countries’ economy has diversified and increased trade among its neighbouring countries.
Unfortunately, due to the COVID-19 outbreak in early 2020, borders were closed to tourism and trade, which caused an economic slowdown impacting small and medium-sized businesses in the region. Before this unprecedented event, the Pacific Island region import commodities to supply domestic demands for meat, fish, dairy, and other foodstuffs. Meanwhile, bulk of the local agriculture products are being exported to around the world. In 2018, according to the website OEC, 6% of Samoa’s imports were meat and edible meat offal. At the same time, Tonga and Vanuatu import mainly poultry meat, which contributes 7.55% and 3.01%, respectively. Fiji imports wheat with 1.53%. These items fill up the local grocery shelves.
Extraordinary containment measures, including strict restrictions on air travel and public health measures such as observance of social distancing, are now in place to safeguard the population while keeping the economy thriving. The resumption of trade is essential for both consumers and business owners, likewise for the economy to keep going. While business owners are still exposed to this pandemic’s risks, Fexco Pacific helps importers and exporters by offering great cross-border payment rates.
Moreover, Fexco Pacific adheres to social distancing by offering a secured online platform for international business payments. It is secured, fast, convenient and competitive and no need to go to any of the branches. To get the best TT rates, send an email to [email protected].