On 20 April 2017, the Department of Foreign Affairs and Trade (DFAT) announced that Australia has successfully concluded negotiations with New Zealand and 12 Pacific Island countries in Brisbane today to implement PACER Plus – the Pacific Agreement on Closer Economic Relations Plus. This agreement will drive economic growth and raise living standards in the region.
PACER Plus is unique in that it is both a trade and a development agreement covering goods, services and investment. It has the potential to reshape the economic fundamentals of the Pacific region by creating new opportunities for trade and investment in Australia’s neighbourhood. The countries participating are Australia, the Cook Islands, the Federated States of Micronesia, Kiribati, Nauru, New Zealand, Niue, the Republic of Marshall Islands, Palau, Samoa, the Solomon Islands, Tonga, Tuvalu and Vanuatu. The Agreement will be signed in Tonga in June.