Pacific Agreement on Closer Economic Relations (PACER) Plus
About PACER Plus
The Pacific Agreement on Closer Economic Relations Plus is a regional development-centred trade agreement. It is a comprehensive Free Trade Agreement (FTA) covering goods, services and investment. Negotiations on PACER Plus commenced in 2009 and concluded in Brisbane on 20 April 2017.
PACER Plus opened for signature on 14 June 2017, and has been signed by 11 Pacific island countries – Australia, Cook Islands, Kiribati, Nauru, New Zealand, Niue, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu.
As of September 2020, New Zealand, Australia, Samoa, Kiribati, Tonga, Solomon Islands and Niue have ratified the Agreement. PACER Plus will come into force 60 days after the eighth signatory to ratify the Agreement notifies the Depositary in Tonga that they have completed their domestic processes.
PACER Plus is an important part of Australia's engagement in the Pacific and provides an avenue to help foster a secure, stable and prosperous region. PACER Plus will promote trade, investment and economic growth in the Pacific and support post COVID-19 economic recovery in our region. Dedicated development assistance is being provided as part of PACER Plus. The PACER Plus Readiness Package supports Pacific island country signatories to ratify the Agreement. There are five work-elements under the PACER Plus Readiness Package:
- Legislative drafting
- Customs modernisation, harmonisation, implementation of up to date tariff codes and transposition of schedules
- Training on notification requirements under the Agreement
- Public outreach and stakeholder engagement
- Revenue planning and mitigation.
The PACER Plus Implementation Package, once the Agreement enters into force, will help Pacific island country signatories to take advantage of the Agreement.