PNG stand on PACER Plus remains: Trade Minister

Trade, Commerce and Industry Minister Richard Maru says Papua New Guinea’s stand on the PACER Plus Trade Agreement sponsored by Australia and New Zealand still stands.

The PNG Government earlier this year said it will not be party to the trade agreement because it favours the bigger economies of Australia and New Zealand.

Maru’s comments followed smaller Pacific Islands States welcoming the commitment by Australia and New Zealand to provide appropriate resources for the implementation of PACER Plus with respect to the development and economic cooperation chapter of the text, and for the broader trade related assistance at the recently concluded 47th PIF Summit in the Federated States of Micronesia.

This includes an initial joint A$7.7 million Readiness Package to be available to signatories between signature and entry into force, to assist in undertaking necessary work for the ratification process of PACER Plus.

PACER Plus in its current form, especially the push to move tariff and duty will kill our (local) manufacturing sector,” Maru said earlier this year.

PNG and Fiji are the two largest economies in the Pacific apart from Australia and New Zealand. 

Author: 
Charles Yapumi