Trade Minister Todd McClay will Chair a meeting of Trade Ministers and senior representatives from 16 countries in Christchurch on Friday 26 August to negotiate the final terms of a trade and development deal for the Pacific region, called the Pacific Agreement on Closer Economic Relations Plus (PACER Plus).
“This agreement is of significant importance to the economic integration and prosperity of the region,” says Mr McClay.
The agreement aims to open up opportunities for both New Zealand and Pacific Island countries to trade in a more consistent and transparent way.
“It recognises the unique challenges that Pacific island countries face in participating in international trade, and includes a significant focus on development. They have small and isolated land masses with limited production capabilities and employment opportunities.
“PACER Plus aims to help overcome some of these challenges by removing trade barriers; opening up opportunities for businesses to trade in more markets; and developing the capabilities needed to successfully participate in regional and global trade.
“These initiatives will strengthen growth prospects by creating more jobs, improving living standards and encouraging sustainable economic development across the region as a whole,” says Mr McClay.
New Zealand, Australia, Cook Islands, Federated States of Micronesia, Fiji, Kiribati, Nauru, Niue, Palau, Papua New Guinea, Republic of Marshall Islands, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu, will be represented at the meeting.
