Results for Business

The elimination of trade protectionism by the World Trade Organisation, in its quest to establish a global economy will confront Tonga with a tremendous trade disadvantage, warned the Prince Regent, Crown Prince Tupouto'a when he opened a three-day National Seminar on WTO issues on July 19, at the National Reserve Bank building, Nuku'alofa.

Tonga's sole supplier of electricity, the Shoreline Power Group, is investing $13 million to upgrade its power generation capacity and its distribution network.

The liquidation of the Royal Tongan Airlines started yesterday, by a five man team led by Richard Agnew from Price Waterhouse Corporation of Auckland, New Zealand.

Tonga's high inflation rate of 12 per cent, is a stumbling block for economic recovery, and a major cause of misery for ordinary Tongans, and urgently needs to be reduced. Martin Cerisola, the leader of an International Monetary Fund delegation, winding-up their annual visit to Tonga on April 2, said that high inflation had the most adverse affect on low income earners. "It affects the poor the most, and I emphasised that inflation should be brought down to a sustainable level.

The Tonga Development Bank will allocate a $2.5 million fund to be made available for loans to squash growers this year, according to the bank's Commercial Loans Manager, Simi Sefanaia.

Telecommunications managers in the Pacific are looking at how island communities can take advantage of new telephone and internet technologies. From Matangi Tonga Magazine Vol. 18, no. 3, December 2003.

Tricia Emberson the CEO of Tonga’s largest fish exporter, ‘Alatini Fisheries Ltd., who has been operating in Tongan waters for the last 14 years, is a hard core survivor of an industry that has had to ride out the waves of unfavourable weather conditions and export cargo surcharges over the last two years. From Matangi Tonga Magazine Vol. 18, no. 3, December 2003.

Tonga’s annual squash exports for Japan could reach 20,000 tonnes, but people in the industry in November were predicting the price will plummet this year to a disappointing low of between 20 and 15 seniti per kilo. From Matangi Tonga Magazine Vol. 18, no. 3, December 2003.

Tonga’s export market for its treasured yams would increase if Tonga and its main trading partners New Zealand and Australia could agree on ways to eliminate fumigation for this product, say exporters in Nuku‘alofa. From Matangi Tonga Magazine Vol. 18, no. 3, December 2003.