Photo by Radio NZ
APIBC NEWS : 20th Apr 2017

Pacific trade and development agreement (PACER Plus) concluded

Negotiations for the Pacific regional trade agreement PACER Plus have concluded in Australia after eight years of planning.

— By Minister for Trade, Tourism and Investment

Media Release: Australia has successfully concluded negotiations with New Zealand and 12 Pacific Island countries in Brisbane today to implement PACER Plus - the Pacific Agreement on Closer Economic Relations Plus. This agreement will drive economic growth and raise living standards in our region.

PACER Plus is unique in that it is both a trade and a development agreement. It has the potential to reshape the economic fundamentals of the Pacific region by creating new opportunities for trade and investment in our neighbourhood.

Closer economic integration of the region with larger economies such as Australia and New Zealand is essential for sustainable economic growth in the Pacific. In line with Australia’s Aid for Trade Strategy, Australia will support the implementation of the PACER Plus Agreement and continue to work to increase Pacific-wide trade, tourism and investment.

PACER Plus is a landmark agreement covering goods, services and investment. It will remove barriers to trade, including tariffs, increasing the flow of goods and investment in the region, generating growth, jobs and raising living standards.

No country has achieved high and lasting growth without participating in international trade.

Australia, New Zealand and Pacific Island countries have a close and important relationship. As part of the Turnbull Government’s ambitious trade agenda, PACER Plus will provide an important avenue to achieve Australia’s objective to foster a secure, stable and prosperous region.

The Agreement will be signed in Tonga in June.

Media enquiries

Trade Minister's Office: (02) 6277 7420

DFAT Media Liaison: (02) 6261 1555

 

What is the Pacific Agreement on Closer Economic Relations (PACER) Plus?

 

Related Articles

24th April - Five questions for: Edwini Kessie, Pacer Plus Chief Trade Adviser (Business Advantage PNG)

21st April - Negotiations for the Pacific regional trade agreement PACER Plus have concluded in Australia after eight years of planning. (Radio NZ)

20th April - Pacific nations agree on trade deal that will provide boost to smaller countries (ABC)

20th April - Fiji and PNG opt out as PACER Plus trade deal reached (SBS)

 

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