Benefits for Pacific Island countries
PACER Plus aims to boost sustainable economic development and contribute to a more stable and resilient Pacific region. It will help to drive economic growth, including creating jobs, higher incomes and more opportunities for people.
For Pacific Island countries, PACER Plus will:
- present new exporting opportunities
- attract increased investment
- provide more trade-related development assistance
- facilitate greater people movement across the region.
It will support Pacific Island countries to enhance their trading capacity into regional and global markets – to grow faster, innovate and improve productivity.
Watch a video about the Benefits of PACER Plus for Pacific signatories.
PACER PLUS - BENEFITS
Benefits for New Zealand businesses
PACER Plus improves the business environment in the Pacific region for exporters and investors across a wide range of sectors.
For New Zealand businesses, PACER Plus will:
- improve market access
- provide greater consistency, certainty and transparency trading in the Pacific region
- generate opportunities to invest or partner with Pacific businesses.
Key trade benefits of PACER Plus include:
- more consistent and transparent trading rules throughout the region on sanitary and phytosanitary measures, technical barriers to trade, and customs procedures
- more liberal and product-specific rules of origin
- a more stable and predictable environment for foreign investment
- greater certainty around tariffs for exporters provided through transparency requirements and online trade portals
- a more mobile labour force in the region under the Labour Mobility Arrangement.
PACER Plus One Year Anniversary:
The first anniversary of PACER Plus was marked on 13 December 2021. Hon Phil Twyford and Hon Aupito William Sio spoke at the event, following a panel discussion with Māori and Pasifika entrepreneurs and leaders. Hon Aupito William Sio stressed that PACER Plus is about a meaningful partnership with the Pacific.
Minister Twyford's speech(external link) highlighted that PACER Plus is unique due to the agreement’s trade and development focus. He discussed four key developments from the last year:
- The development of key institutional structures to support the agreement, such as the PACER Plus Implementation Unit;
- The roll-out of a new customs border management system to the six smaller Pacific countries of the agreement;
- Building momentum for the PACER Plus qualifications recognition for labour mobility project;
- The Pacific Labour Mobility Annual Meeting, to bring together stakeholders across the region.
Additionally, Minister Twyford announced the establishment of InvestPacific(external link), an Aotearoa New Zealand based investment fund for the Pacific. It seeks to strengthen Pacific resilience through mid-sized investments that generate inclusive employment and sustainable development. The fund will partner with Pacific stakeholders to ensure investments generate real benefits for their communities.
The panel of entrepreneur and leaders discussed topics including: sustainable trade in the Pacific, how to build a sustainable Pacific labour force, tourism, technological exchange, and trade and investment.