Source: New Zealand Government
The Minister of State for Trade and Export Growth, Phil Twyford, welcomed the entry into force today 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,” Phil 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,” Phil Twyford said.
This landmark trade and development agreement demonstrates New Zealand’s enduring commitment to the Blue Pacific. As a part of that commitment New Zealand has agreed to commit 20 per cent 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.
For more information, refer to: www.mfat.govt.nz/pacerplus