The Pacific Agreement on Closer Economic Relations (PACER) Plus is a landmark trade and development agreement that will raise living standards, create jobs and increase exports from Pacific Island countries, while also lowering barriers and providing greater certainty for businesses operating in the Pacific.
All Pacific Islands Forum (PIF) members are encouraged to join PACER Plus.
Ten PIF members ratified and have been Party to the Agreement since its entry into force on 13 December 2020: Australia, Cook Islands, Kiribati, New Zealand, Niue, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu.
Nauru has signed and is yet to ratify.
PACER Plus is a regional development-centred trade agreement designed to support Pacific Island countries to become more active partners in, and benefit from, regional and global trade.
PACER Plus entered into force on 13 December 2020. Ten countries are Parties to the Agreement: Australia, Cook Islands, Kiribati, New Zealand, Niue, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu.
PACER Plus covers trade in goods (rules of origin and verification procedures, customs procedures, biosecurity measures, and standards and conformance), trade in services, investment, temporary movement of natural persons, development and economic cooperation, institutional arrangements, transparency, and consultation and dispute settlement. Schedules of commitments cover tariffs, services, investment, and movement of natural persons.
Pacific Island countries face a range of development challenges including small domestic markets and narrow production bases, weak regulatory and private sector capacity, low savings, and investment rates, as well as high trade and business costs. Pacific Island countries also have young, fast-growing populations that need opportunities and jobs.
To support Pacific Island countries to meet these challenges, PACER Plus:
Critical to the implementation and effectiveness of the PPIU is our governance.
Chapter 12 of the Agreement establishes a Joint Committee (JC) consisting of representatives of the Parties, and also establishes the functions of the JC. The JC reports to PACER Plus Ministers and the PPIU reports directly to the JC.
Chapters 12 and 12A of the Agreement provides for the establishment of Subcommittees to guide the implementation of activities that are fit for purpose and suit the needs of Parties.
The Implementing Arrangement establishes the Budget Committee to support the work of the JC and PPIU.
