The Pacific Agreement on Closer Economic Relations (PACER) Plus is a regional trade agreement between the FICs, Australia and New Zealand. Initiated in 2009, the Agreement aims to achieve closer economic integration and trade relations within the Pacific and is intended to be a development friendly deal that facilitates sustainable growth for FICs. It is envisaged that the Agreement will provide a long-term opportunity to create jobs, enhance private sector growth, raise standards of living, and boost economic growth in the FICs. Negotiations include trade capacity-building and development assistance designed to strengthen the FICs’ ability to trade. In this regard it is not considered a typical WTO style trade agreement.
The agreement covers priority areas on Customs Procedures and Rules of Origin, Sanitary and Phytosanitary (SPS) measures, Technical Barriers to Trade (TBT), Labour Mobility, and Development Assistance, as well as the traditional chapters on Goods, Investment and Services.
In recognition of the challenges faced by the FICs, the Office of the Chief Trade Adviser (OCTA) was established in 2009 to provide independent advice and technical support in the PACER Plus negotiations. OCTA assists FICs to analyse trade policy issues, develop negotiating strategies, facilitate the development and coordination of negotiating positions, build trade negotiation capacity, and advance their positions in trade negotiation meetings.
Negotiations have been cloncluded and PACER Plus has been finally signed.
For more information visit the OCTA website