Tonga’s prime minister has denied that Tonga has withdrawn from the regional trade deal known as PACER Plus.
Tonga’s prime minister says his country is no longer a signatory to the regional trade deal known as PACER Plus.
An analyst says New Zealand’s planned trade deal with the Pacific Island nations could be extremely damaging to their economies.
New Zealand risks being seen as a “strategic nincompoop, at best” if it persists with attempts to bind Pacific Island countries into the New Zealand and Australian economies using mechanisms such as the PACER Plus.
PNG and Fiji’s unwillingness to participate demonstrates that the agreement is heavily skewed towards the interests of Australia and New Zealand.
Australia has reiterated the importance of New Zealand to its foreign policy direction with particular emphasis on the role it sees New Zealand playing in its economic engagement with Pacific island countries.
Pacific countries already signed up to the PACER Plus are being urged to more closely examine their commitments under the deal, including the implications for customary land.
A new trade policy looks set to shift Papua New Guinea’s focus towards the development of bilateral ties and away from multinational agreements as part of broader efforts to create a more balanced trading environment.
The private sector in Vanuatu has expressed surprise the government had reversed its position on the PACER PLUS trade deal despite opposition from the businesses affected.
Vanuatu has signed up to PACER Plus trade deal in Samoa - three months after most regional countries agreed to the trade agreement.
The Minister for Industry, Trade, Tourism, Lands and Mineral Resources said the meeting involved discussions on the ‘way forward’ with the Melanesian Spearhead Group Trade Agreement.
With the signing process now concluded, PACER Plus will take effect 60 days after eight negotiating parties complete their domestic processes and have notified the depositary accordingly.
Papua New Guinea is still realigning internal issues and is not ready to make commitments under Pacific Agreement on Closer Economic Relations Plus (Pacer-Plus) an official says.
The Vanuatu opposition has congratulated the government for its decision not to sign the PACER Plus trade agreement.
A region-wide free trade agreement has been signed in Tonga, with some notable absences.
PACER-Plus will have a serious impact on the ability for Solomon Islanders to determine for themselves their own development future.
The Tonga Public Service Association has called for a delay in the signing of the PACER Plus trade and development deal until the Pacific Islands Forum leaders’ summit in September.
The PACER-Plus model of development is based on an increasingly questionable form of economics which naively imagines that national economies will adapt automatically to enhanced price signals from liberalised international markets from which ’distortions’ are removed.
The decision by Vanuatu not to sign PACER-Plus sets the benchmark for a how to progress on PACER-Plus ahead of the signing
The Vanuatu government has announced it will not sign the PACER Plus trade and development deal in Tonga.