The Samoa Government has signed an agreement with the Fijian government to support regional collaboration between the Samoa National Provident Fund, Unit Trust of Samoa and the Unit Trust of Fiji.

The signing of the agreement was reported on Wednesday by Fijian news portal FijiVillage which published photographs showing Samoa’s Minister of Finance Sili Epa Tuioti, Ministry C.E.O. Leasiosiofa'asisina Oscar Malielegaoi, the S.N.P.F. Chief Executive Officer Pauli Prince Suhren, and the U.T.O.S. Chief Executive Officer, Tevaga Viane Tagiilima in a virtual meeting with their Fijian counterparts. 

The Fiji government was represented by the Attorney General and the Minister for Economy, Aiyaz Sayed-Khaiyum, who formalised the agreement with the Samoan Government on Wednesday afternoon in Nadi.

The Unit Trust of Fiji has described the agreement as historic as it extends its services to Samoa, however, the FijiVillage article did not specify what sort of services the Unit Trust of Fiji will offer to Samoa.

According to FijiVillage the Ministers of Samoa and Fiji had a fruitful discussion, addressing a number of investment opportunities amidst renewed calls to revamp diplomatic and trade relations between the two island nations once the borders open up.

The memorandum of understanding that was signed on Wednesday allows both parties to mutually invest based on the agreed framework extending to key industry sectors.

FijiVillage reports that the Samoa National Provident Fund, Unit Trust of Samoa and Samoa’s Parliamentary Scheme have already invested $16 million with the Unit Trust of Fiji.