The two inexorable forces cited to buttress this argument are technological progress, particularly the improvement in the speed and quality of communication and the dramatic decline in transport costs. It is true that technological progress and declining transport costs offer opportunities for increasing the benefits of trade and strengthen the case for globalization.
According to the Fiji Bureau of Statistics Establishment Surveys, MSMEs make up about 95 percent of businesses in Fiji and yet constitute less than 20 percent of the loan books of our mainstream lending institutions. Improving access to credit for MSMEs will contribute to more inclusive and sustainable economic growth.