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Federal Agriculture Minister David Littleproud has welcomed a new trade deal between Australia and Pacific nations.
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Lower tariffs and closer economic ties with Pacific nations were the centrepiece of a recently signed trade agreement.
The Pacific Agreement on Closer Economic Relations Plus (PACER Plus) was signed on December 13.
Federal Agriculture Minister David Littleproud said it was an important part of Australia s broader engagement in the Pacific and provided an avenue to help foster a secure and stable region.
“PACER Plus enters into force for Australia, Cook Islands, Kiribati, New Zealand, Niue, Samoa, Solomon Islands and Tonga,” he said.
“It also remains open to accession by Nauru, Tuvalu and Vanuatu, which have signed but not ratified, and likewise to other Pacific Island countries such as Fiji and Papua New Guinea, which are yet to sign the agreement.”
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PACER Plus: Why it Matters Now People are at the heart of Australia’s partnerships in the Pacific. Greater economic integration will bring people closer together, underpin recovery, and build a region that is more stable, prosperous and secure – for all of us.
Source: Twitter Wednesday, 16 December 2020 10:22 AM
The Pacific Agreement on Closer Economic Relations Plus – or PACER Plus – entered into force on 13 December, marking the start of a new journey in which parties will determine and co-deliver their own priorities for increasing trade across the Pacific.
In a milestone for Pacific regional development, PACER Plus provides a new platform to support economic recovery. The fact that four of the eight Pacific partners that have ratified PACER Plus so far did so during the COVID-19 pandemic underscores the value they place on the agreement in these most challenging times.
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