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The New Zealand Government has announced a start of the country’s first Trade and Development Agreement.
Minister of State for Trade and Export Growth Phil Twyford welcomed the new entry into the force today of the Pacific Agreement on Closer Economic Relations Plus (PACER Plus).
“PACER Plus will be instrumental in supporting Pacific economies to rebuild from the devastating impacts of COVID-19,” Phil Twyford said.
“The Agreement provides opportunities for goods and services produced in the region to be sold within the Pacific and globally, thereby using trade as an engine of economic growth and sustainable development.”
The new agreement means New Zealand’s commitment to the Blue Pacific will be greater than ever.
New Zealand has agreed to commit 20 per cent of Official Development Assistance towards Aid for Trade activities in the region.
New opportunities will be provided to build capacity, enhance infrastructure and improve the ability of countries to benefit from more trade opportunities.