The Turnbull Government has delivered another trade agreement that will help drive economic growth and raise living standards in our region.
Today the Assistant Minister for Trade, Tourism and Investment, Keith Pitt, signed the Pacific Agreement on Closer Economic Relations (PACER Plus) at the ceremony in Nuku'alofa, Tonga.
The signing comes after negotiations concluded in Brisbane in April.
PACER Plus is a comprehensive Free Trade Agreement (FTA) covering goods, services and investment. Today's signing included Australia, New Zealand and eight Pacific island countries – Cook Islands, Kiribati, Nauru, Niue, Samoa, Solomon Islands, Tonga, and Tuvalu.
PACER Plus is unique in that it is both a trade and a development agreement. It has the potential to reshape the economic fundamentals of the Pacific region by creating new opportunities for trade and investment in our neighbourhood.
PACER Plus will also support development outcomes by helping Pacific island countries engage in regional and global trade. No country has achieved high and lasting growth without participating in international trade.
Australia, New Zealand and Pacific island countries have a close and valuable relationship.
PACER Plus will provide an important avenue to achieve Australia's objective to foster a secure, stable and prosperous region.
PACER Plus is part of the Turnbull Government's ambitious trade agenda and builds on the trade agreements delivered by the Coalition.
Further information on PACER Plus can be found on the Department of Foreign Affairs and Trade's website.
- Trade Minister's Office: (02) 6277 7420
- DFAT Media Liaison: (02) 6261 1555