The Pacific Agreement on Closer Economic Relations Plus (PACER Plus) is a landmark trade and development agreement that aims to create jobs, raise standards of living and encourage sustainable economic development in the Pacific region.
What is the purpose of the agreement? PACER Plus aims to strengthen economic growth prospects of the Forum Island Countries through: • Targeted capacity building and strengthening export capabilities • Improving access opportunities for doing business in the region • Increasing the attractiveness of the region for trade and investment
Who are the partners to the agreement? Eleven Pacific Island Forum countries are signatories to the agreement: Australia, Cook Islands, Kiribati, Nauru, New Zealand, Niue, Samoa, Solomon Islands, meeting on Pacific Labour Mobility (the ‘PLMAM’), which Tonga, Tuvalu and Vanuatu. All Pacific Island Forum will become the principal forum for advancing regional members are encouraged to join in the future. labour mobility initiatives including: • Building institutional capacity of agencies that Why is the agreement important to manage labour mobility the Solomon Islands? • Promoting and improving current visa categories to PACER Plus provides a valuable opportunity to deepen facilitate greater circulation of temporary workers regional trade and economic integration in the Pacific, • Tertiary vocational education and training; and increasing regional trade, investment and labour flows and thereby growing the private sector, creating jobs • Recognition of qualifications and registration of and raising standards of living in the Pacific. occupations • Discussion of regional labour mobility priorities Labour Mobility Initiative such as enhancing existing initiatives and exploring options for new areas of cooperation Alongside PACER Plus, the Parties concluded a Labour Mobility Arrangement (LMA) which provides The annual PLMAM meeting will provide an opportunity a new platform for enhanced dialogue and regional for Solomon Islands to address topics of interest and cooperation on labour mobility. Australia and New new labour mobility initiatives. NZ will host the next Zealand have committed to funding an annual regional PLMAM in late 2019.
Disclaimer – This document is for information purposes only, and does not constitute legal advice. Benefits to the Solomon Islands • New Zealand and Australia are offering over $33 • Reduce tariffs and red tape for exporters and million in development and economic cooperation investors assistance for Pacific Island signatories • Increased regional trade and investment facilitation • Support Pacific workers to access temporary • Solomon Islands is one of the first countries to employment in New Zealand and Australia in receive support under the new tourism market industries that face labour shortages. research and development initiative that will deliver • Access to higher quality imported goods tools for capturing tourism data, enabling improved design and investment in tourism initiatives • Attract investment and driving growth in key sectors such as tourism, transport and infrastructure. • Commitments to affording protections to foreign investments will signal to investors that the Pacific • A new $10 million Pacific Business Hub to grow and economies are sound and stable environments to do improve small and medium enterprises in the region business and improve their market-readiness • New Zealand and Australia have committed to invest • Solomon Islands has been identified as a priority country 20% of its total Official Development Assistance in for New Zealand’s new labour mobility initiatives, should ‘Aid for Trade’ to support Forum Island Countries they be expanded beyond the pilot stage. build their capacity to trade and attract investors • Solomon Islands also benefits from the Pacific Horticultural and Agricultural Market Access (PHAMA) programme which has received increased funding to extend the programme as part of the package of support for PACER Plus
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