SUVA, June 25 (Xinhua) -- Businesses from Fiji and New Zealand have been encouraged to work together to reach full potential of investment opportunities and to attract more markets to grow both economies.

Speaking at the New Zealand-Fiji Business council mission in the Fijian capital of Suva on Monday, Fiji's Minister for Industry, Trade and Tourism, Lands and Mineral Resources Faiyaz Koya said that the two-way trade in goods of Fiji and New Zealand reached 992.2 million Fijian dollars (about 478 million U.S. dollars) in 2017.

Koya said that about 71 million Fijian dollars (about 34 million U.S dollars) worth of New Zealand investments were registered in 2017 in tourism, services, wholesale and retail sectors.

"As a government ministry, we stand ready to work side-by-side with the business community in New Zealand to further ignite the trade and investment between our two countries," he said, adding that in order to strengthen trade and investment relations, Fiji had established the Fijian Trade Commission office in Auckland, New Zealand earlier this year.

Through the Trade Commission, Fiji will redouble efforts in attracting more investments and markets for Fijian made products.

"We are the hub of the Pacific - the hub of trade, business, transportation, logistics and communications. And we have done exceptionally well over the past decade, as seen quite clearly through the strengths of our economy," he said.

The meeting, which will end on Wednesday, will focus on areas of interest between the two countries. These areas include investment opportunities, setting up businesses in Fiji for New Zealand and trade opportunities.