“This is a landmark moment for the economic future of the Pacific. Pacer Plus will help sustainably develop the countries involved through trade and help raise the standard of living for their people. A more resilient and prosperous Pacific is in all of our interests,” Mr McClay says.
“In the short-term, the Pacific countries who have signed this agreement will benefit economically and socially through the joint NZ Australia $55 million development package. Long-term, trade will help transform their economies by providing reliable income and sustainable growth.”
“PACER Plus also benefits New Zealand businesses by establishing a common set of trading rules covering goods, services and investment. These rules will reduce tariffs and red tape for New Zealand exporters and investors as well as future-proof competitive access for our companies.”
Eight Pacific island countries signed the agreement except Fiji, Vanuatu and Papua New Guinea.
Photo Twitter MFAT: Minister for Trade Todd McClay signs the PACER Plus trade and development agreement