“PACER Plus enters into force for Australia, Cook Islands, Kiribati, New Zealand, Niue, Samoa, Solomon Islands and Tonga,” Minister Littleproud said. Relevance to Pacer Plus Pacer Plus negotiations began in 2009 and concluded in 2017, with 11 countries signing the Agreement. Cook Islands was the eighth country to ratify PACER Plus, following Kiribati, New Zealand, Niue, Samoa, Solomon Islands, Tonga and Australia. Samoa has ratified a major Pacific free trade agreement, edging it closer to rollout. The trade deal known as Pacer Plus will have immediate benefits for the Cook Islands when it comes into force later this year, says the Cooks' deputy prime minister. Cook Islands Prime Minister Mark Brown says the agreement is important to his country: “economic diversification is a cornerstone of our development strategy and international trade policy must be an important strategic tool we use to strengthen and diversify our … Te Kauono Tutara e te Mana Tiaki – Ministry of Foreign Affairs and Immigration. PACER Plus – a regional trade agreement between Australia, New Zealand and Pacific island … The trade deal known as Pacer Plus will have immediate benefits for the Cook Islands when it comes into force later this year, says the Cooks' deputy prime minister. The Cook Islands Trade Portal is a trade facilitation platform implemented by the government of the Cook Islands, in the context of the PACER Plus agreement, with technical assistance from UNCTAD and funding from Australia and New “PACER Plus enters into force for Australia, Cook Islands, Kiribati, New Zealand, Niue, Samoa, Solomon Islands and Tonga,” Minister Littleproud said. This comes as New Zealand last week became the first country to ratify the deal that has also been signed by nine Pacific countries and Australia. In PACER Plus there are broad clauses that require the Pacific to pass on any better treatment they give to a third-party to Australia and New Zealand as well. Puna says stronger economy will benefit Cook Islands in the long term. Cook Islands was the eighth country to ratify the agreement on 14 October 2020, triggering the 60-day countdown for PACER Plus to enter into force. As with every Agreement, however, it will be up to us to take advantage of those opportunities in the months ahead.” Cook Islands National Security Policy will be released at a time when its need to work on the Pacer Plus will be pronounced. Agriculture Minister David Littleproud said PACER Plus was an important part of our broader engagement in the Pacific and provided an avenue to help foster a secure and stable region. PACER Plus will only enter into force after eight of the signatory countries step in to ratify. PACER Plus negotiations began in 2009 and concluded in 2017. PACER Plus is due to enter into force on 13 December 2020, and will mark the largest free trade agreement (FTA) to … Pacific regional trade and development agreement PACER Plus will enter into force in 60 days now that the required eight countries have ratified it. PACER Plus covers trade in goods (rules of origin and verification procedures, customs procedures, biosecurity As with every Agreement, however, it will be up to us to take advantage of those opportunities in the months ahead.” The Cook Islands Finance Minister Mark Brown said the decision to hit pause on the … The Cook Islands is the eighth signatory of PACER Plus to ratify the Agreement, thus bringing the Agreement into force with the Cook Islands being one of the original parties. The agreement expands the existing Pacific Agreement on Closer Economic Relations (PACER) to include further trade liberalisation and development assistance. Cook Islands Prime Minister Henry Puna has signalled his government will shortly ratify a major regional trade agreement. The eleven countries who have signed the PACER Plus Agreement are Australia, Cook Islands, Kiribati, Nauru, New Zealand, Niue, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu, while eight have ratified the agreement. The Cook Islands is putting its ratification of the regional trade deal known as PACER Plus on hold. Given the entry of PACER Plus into force it will now … “PACER Plus ready to go sends a very strong message that the Pacific region and New Zealand are ready to do business,’ Fiso John Fiso said. PACER Plus is due to enter into force on 13 December 2020, and will mark the largest free trade agreement (FTA) to focus on trade amongst Pacific Island nations. Frank Grozel & Poul Hansen United Nations Conference on Trade and Development (UNCTAD) The objective of the Agreement is to maximise opportunities for Forum Island Countries (FICs) to use trade and investment as engines of growth, to create jobs and ensure higher incomes and living standards. PACER Plus will enter into force on 13 December. By the middle of the year the required number of countries are expected to have ratified it, allowing the deal to come into force. The Cook Islands had put its ratification on hold because of fears it would miss out on development assistance, but Mark Brown says the deal will be ratified in June. PACER Plus opened for signature on 14 June 2017, and has been signed by Australia, New Zealand and nine Pacific island countries (Cook Islands, Kiribati, Nauru, Niue, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu). Last October, the Cook Islands put its ratification on hold over fears it would miss out on economic assistance when it graduated Cook Islands to ratify PACER Plus The PACER Plus trade deal is led by New Zealand and Australia and has nine Pacific Island signatories, but only Samoa has ratified it . RAROTONGA, Cook Islands (Cook Islands News, April 28, 2017) – The Pacific Agreement on Closer Economic Relations (PACER) Plus deal is as much about development as it is about trade for the Cook Islands, says prime minister Henry Puna. In contrast to previous trade agreements to which the Cook Islands is party, PACER Plus includes detailed provisions not only on trade in goods but also trade in services and investment, increasingly important areas of international trade. In the third and final piece of a three-article series, Wesley Morgan calls for nations like Australia to cement the long-term relationship with its Pacific family and build a more integrated regional economy. 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