PACER Plus Trade in Services and Investment Clinic Boosts Vanuatu's Capacity for Economic Development
19 Dec 2023
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.
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.
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