Hon Todd McClay
Minister of Trade
20 April 2017
Historic PACER Plus agreement finally concluded
Trade Minister Todd McClay says the successful conclusion of PACER Plus negotiations is a landmark day for trade and the
sustainable economic development of the Pacific.
"PACER Plus is a unique trade and development agreement. It includes a development package of more than $55 million that
will help raise standards of living, create employment opportunities and increase export capacity in Pacific Island
countries,” Mr McClay says.
The agreement which was reached in Brisbane today by Pacific Island, New Zealand and Australian Trade Ministers includes
tariff phase out periods which recognise the vulnerable nature of many Pacific economies and the strong relationship
they share with Australia and New Zealand.
"This is a significant achievement. After 8 years of negotiations, we can now focus on implementing an agreement which
future-proofs our access whilst helping develop their export economies," Mr McClay says.
“The agreement will also create a common set of trading rules covering goods, services and investment in support of
economic growth. These rules will help reduce tariffs and red tape for exporters and investors, which will increase the
attractiveness of the region for trade and investment.”
The 14 countries participating in PACER Plus are New Zealand, Australia, Cook Islands, Federated States of Micronesia,
Nauru, Kiribati, Niue, Palau, Republic of Marshall Islands, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu.
An expedited procedure has been agreed for other Forum Island countries to join the Agreement.
A formal signing of the agreement is scheduled to take place in Tonga in June.