Monday, July 15, 2024

Pacific PACER Plus gains speed

The Minister of State for Trade and Export Growth, Phil Twyford, has welcomed the announcement of the Pacific Agreement on Closer Economic Relations Plus (PACER Plus).

“PACER Plus will be instrumental in supporting Pacific economies to rebuild from the devastating impacts of COVID-19,” Mr Twyford said.  

“The Agreement provides opportunities for goods and services produced in the region to be sold within the Pacific and globally, thereby using trade as an engine of economic growth and sustainable development.”

He said the landmark trade and development agreement demonstrated New Zealand’s enduring commitment to the Blue Pacific.

“As a part of that commitment New Zealand has agreed to commit 20% of our Official Development Assistance towards Aid for Trade activities in the region.”

“This support will provide opportunities to build capacity, enhance infrastructure and improve the ability of countries to benefit from trade opportunities such as those made possible through PACER Plus.”

Parties to the agreement include Australia, Cook Islands, Kiribati, Niue, Samoa, Solomon Islands, Tonga and New Zealand.

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