PACER Plus Development Assistance
The Pacific Agreement on Closer Economic Relations Plus (PACER Plus) help Pacific island countries to become more active partners in, and benefit from, the regional and global trading system, in turn creating new opportunities for economic growth, jobs and raising living standards. Dedicated assistance is critical to achieving these outcomes.
The PACER Plus free trade agreement includes a Chapter on Development and Economic Cooperation and an accompanying Implementation Arrangement. These provide the framework for members to identify needs for assistance, prioritise activities and evaluate progress throughout implementation.
The Australian Government, together with New Zealand, funds activities to support Pacific island members to benefit from the agreement’s outcomes. To date, this has been achieved through a Readiness Package to support members to prepare for and ratify the agreement, and an Implementation Package which establishes at PACER Plus Implementation Unit in Samoa to support implementation.
The Australian and New Zealand Governments have committed to a Aid for Trade funding target for the Pacific of 20 per cent of total Official Development Assistance. PACER Plus provides an important avenue for Pacific to identify and priorities their trade and investment needs and to coordinate Australia and New Zealand’s for Aid for Trade assistance to the Pacific in delivering on our targets.