INDEPENDENT NEWS

Historic PACER Plus agreement finally concluded

Published: Thu 20 Apr 2017 04:12 PM
Hon Todd McClay
Minister of Trade
20 April 2017
Media Statement
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.

Next in New Zealand politics

Changes to temporary work visas confirmed
By: New Zealand Government
Public Support Keeps Healthy Homes Bill on Track
By: New Zealand Labour Party
No signs of real improvement for poorest families, says CPAG
By: Child Poverty Action Group
National signals election intentions
By: New Zealand National Party
ACT set to play key role in election result
By: ACT New Zealand
UnitedFuture welcomes immigration changes – Dunne
By: United Future
Immigration Policy Adjustments Helpful for Manufacturers
By: NZMEA
Temporary visa changes more workable
By: BusinessNZ
Pragmatic response to employers call for temporary work visa
By: EMA Central
Work Visa Record an Attack on Young New Zealanders
By: New Zealand First Party
Immigration Needs Long Term Strategy, Not Knee Jerk Reaction
By: Conservative Party
Migration, diversity and the changing face of New Zealand
By: University of Auckland
Little Bill will do little for healthier homes
By: New Zealand Government
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media