Launch of the E-commerce Grant Facility under the Enhancing Pacific-Korea Trade Opportunities through Exports and Tourism for Pacific MSMEs
04 May 2022
[04 May 2022, Suva, Fiji] The launch of the E-commerce Grant Facility under the Enhancing Pacific-Korea Trade Opportunities through Exports and Tourism for Pacific MSMEs was held at the Pacific Islands Forum Secretariat on 4 May 2022
This grant, of $500,000FJD for two(2) years, is to strengthen e-commerce opportunities for Pacific tourism and trade by supporting the Pacific private sector. This initiative is under the auspices of the Republic of Korea – Pacific Islands Forum Cooperation Fund, established in 2008.
The Deputy Secretary General of the Pacific Islands Forum, Dr Filimon Manoni, conveyed thanks and appreciation to the Government of Korea for making this possible.
The Ambassador for Korea, H.E Park Youngkyu said that the grant scheme is to assist Micro Small and Medium Enterprises (MSMEs) in enhancing their products and service provisions to make them more marketable and appealing to the Korean consumers, and more accessible to the Korean consumers, many of whom use online platforms.
As an SME representative at the launch, Kim Beddoes, businesswoman and founder of the Fiji SME Network said the grant was timely for Pacific businesses. The focus on e-commerce was also crucial given that the pandemic hastened the shift to online interface.
The regional grant facility directly targets implementation of Measure 7.7.1 of Pacific E-commerce Strategy and Roadmap, which relates to Access to Finance for E-commerce.
Through this project, the Government of Korea joins the group of likeminded donor partners who are supporting the Pacific E-commerce Initiative, including Australia, the European Union, the Enhanced Integrated Framework, and the U.S. Agency for International Development. This partnership is most welcomed as it advances the region’s collective purpose of regional E-commerce readiness.