By Hera Hoi – EM TV Online
Vanuatu is set to host the 10th inter-sessional meeting on the Pacific Agreement on Closer Economic Relations (PACER) Plus, the proposed free trade agreement between Forum Island Countries with Australia and New Zealand.
Negotiations will focus on a new comprehensive regional trade agreement that will deepen economic links in the region.
According to a press statement released yesterday, Pacific Island Country (PIC) trade officials will meet from Sunday 22nd to Friday 27th March at the Pacifik Farea Convention Centre at Warwick Le in Port Vila, Vanuatu.
PACER Plus launched meetings by its Pacific Island Forum Leaders back in August 2009 for the purpose of enhancing regional trading as well as economic integration.
The meeting in Vanuatu will be attended by PIC trade negotiators, including Fiji, Australia and New Zealand. This will be Fiji’s second time participating in the negotiations, after deciding to re-join last year when they hosted the ninth meeting in Nadi.
There is hope that negotiations from this trade and development program will strengthen the economies of participating nations, by enabling them to significantly benefit from international trade.
The press statement reveals the negotiations will cover a broad range of issues including regional labour mobility, development and economic cooperation, trade in services, investment and trade in goods.
According to The Chief Trade Adviser for the PICs, Dr Edwini Kessie, this established relationship through the PACER Plus agreement between the PIC’s, Australia and New Zealand,Agreement will generate substantial benefits for all the participating countries, particularly the PICs.
“Given that Australia and New Zealand are the largest trading partners of Pacific Island Countries and the largest source of foreign direct investment in most PICS, as well as the biggest aid donor, a PACER Plus Agreement is likely to increase trade and investment flows while enhancing the participation of the PICs in regional and international trade,” Dr Kessie said.
“The negotiations to be held in Vanuatu in March are expected to bring us a step closer to achieving an agreement that will be development-friendly and offer an opportunity to the PICs to enhance their participation in regional and international trade”
The meeting will work towards achieving the agreed mandate to complete by December of this year.
