PACER Plus Trade in Services and Investment Clinic Boosts Vanuatu’s Capacity for Economic Development
PORT VILA, Vanuatu – Services play a pivotal role in driving trade integration and fostering economic development in the Pacific, offering unique opportunities for growth. Recognising the potential, the PACER Plus Implementation Unit (PPIU) conducted a Trade in Services and Investment Proposal Clinic in Port Vila, Vanuatu from 16-17 November 2023. The clinic aimed to address the identified capacity gap in Vanuatu, providing crucial support to understand their obligations and maximise the benefits of trade in services and investment. The PACER Plus Trade in Services and Investment Proposal Clinic aimed to address the identified capacity gap in Vanuatu, providing crucial support to understand their obligations and maximise the benefits of trade in services and investment. Preliminary assessments by the PPIU revealed the need for further capacity development to expedite the implementation of the PACER Plus Trade in Services and Investment Chapter. To bridge this gap, the Trade in Services and Investment Proposal Clinic built on the success of the previous clinic held in Apia, Samoa, in May. The Port Vila clinic had a broader focus, facilitating the development of bankable, high-quality, demand-driven project proposals on priority issues at national level. The clinic welcomed Vanuatu officials representing various relevant agencies responsible for trade in services policy, negotiation, and implementation of services commitments. The sessions focused on the critical need to strengthen Vanuatu’s capacity within the framework of PACER Plus. This involved developing strategic, practical, and attainable activity proposals that align with both national priorities and the obligations outlined in PACER Plus Services. Ms. Olivia Phongkham, PPIU Trade in Services and Investment Adviser, highlighted the significances of the initiative: “Services are key to unlocking the full potential of trade and economic development in the Pacific. The Trade in Services and Investment Proposal Clinic exemplifies our commitment to empowering Vanuatu and other PACER Plus parties with the knowledge and skills to enhance trade in services and investment for sustainable growth.” The PACER Plus Trade in Services and Investment Proposal Clinic in Port Vila marked a crucial step forward for Vanuatu in realising the full potential of the PACER Plus agreement. -END- More articles like this one
From Ocean Depths to International Tables
SolTuna’s Journey of Triumph with PACER Plus HONIARA, Solomon Islands – For years, the Solomon Islands’ pristine waters have cradled SolTuna, a leading tuna company, in their cerulean embrace. Amidst the ebb and flow of the tides, SolTuna battled daunting challenges, determined to deliver their prized tuna to the plates of Australians and New Zealanders. Their odyssey took a historic turn in 2020, when the Solomon Islands ratified the Pacific Agreement on Closer Economic Relations Plus or PACER Plus, a unique development-centered trade agreement that transformed SolTuna’s struggles into triumphs. Fish unloading at the wharf in Noro, Solomon Islands. (Photo: SIBC) “Before PACER Plus, SolTuna faced significant hurdles in exporting our tuna to Australia and New Zealand. Burdened by import duties, we found it hard to compete in these markets,” recalled Mr. Mark Gibble, SolTuna’s Business Development Manager. Despite these barriers, SolTuna’s spirit remained unyielding. Their commitment to quality and sustainability buoyed them through turbulent waters. With the ratification of PACER Plus, their efforts were not in vain. The agreement ushered in a new era, one where import duties were but a memory, paving the way for tariff-free exports. “PACER Plus has been a game-changer. It ensures we no longer pay import duties, revitalising our exports to Australia and New Zealand,” beamed Mr. Gribble. In the wake of tariff liberation, SolTuna’s exports soared. The aroma of freshly caught Solomon Islands tuna began gracing kitchens across Australia and New Zealand. But the impact transcended the realms of the market; it seeped into the heart of the Solomon Islands. With increased demand, SolTuna blossomed, sowing seeds of economic prosperity and job creation for the Pacific Island country. SolTuna’s surge in exports to Australia and New Zealand did more than boost the company’s bottom line. It became a beacon of hope for the people of the Solomon Islands, heralding a wave of employment opportunities. As SolTuna expanded its operations to meet the rising demand, a ripple effect of prosperity washed over the local communities. The increased production at SolTuna meant more hands were needed to harvest, process, and package the prized tuna, creating a surge in employment opportunities for the people. “Our success is not just measured in tons of tuna exported; it’s measured in the lives we touch and the communities we uplift in Solomon Islands. The positive impact of SolTuna’s growth goes beyond economic numbers. It’s about people, their dreams, and the collective progress of the Solomon Islands,” shared Mr. Gribble. “The effects of PACER Plus are profound. It ensures sustainable growth for our industry. With rising demands, we’re adopting eco-friendly practices, safeguarding our marine resources for generations to come,” added Mr. Gribble. “The future is promising. PACER Plus has granted us a competitive edge. We envision expanding our operations, generating employment, and continuing to offer sustainable, high-quality tuna worldwide.” Through tariff-free exports, SolTuna not only propels the economy forward but also safeguards the rich marine ecosystem that sustains countless livelihoods in the Solomon Islands. In every can of tuna exported, there is a story of resilience, collaboration, and a brighter future for a nation and its people. -END- More articles like this one