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In doing so, it has played a coordination role within Government in efforts to prepare for ratification, working closely with the Business Trade and Investment Board, the Crown Law Office, Ministry of Agriculture, Ministry of Finance and Economic Management and others on various aspects of the Agreement. Eight countries are Parties to the Agreement: Australia, Cook Islands, Kiribati, New Zealand, Niue, Samoa, Solomon Islands and Tonga. Last October, the Cook Islands put its ratification on hold over fears it would miss out on economic assistance when it graduated Launching of PACER PLUS Project November 14, 2019 The PACER PLUS Project for the Implementation of the Pacific Trade & Customs Harmonisation Project was officially launched on 14 th of November, 2019 in Honiara, Solomon Islands by the New Zealand High Commissioner to the Solomon Islands. The Cook Islands Trade Portal is a trade facilitation platform implemented by the government of the Cook Islands, in the context of the PACER Plus agreement, with technical assistance from UNCTAD and funding from Australia and New PACER Plus Ministers Communique Category: Financial Secretary Office News Pacer Plus set to come on stream later this year - Cooks Deputy PM. PACER Plus negotiations began in 2009 and concluded in 2017. Cook Islands was the eighth country to ratify PACER Plus, following Kiribati, New Zealand, Niue, Samoa, Solomon Islands, Tonga and Australia. For the past three years, the Cook Islands has been working to put in place legal and other arrangements to enable the Government to ratify the Agreement. About OCO: OCO is a grouping of 23 customs administrations in the Pacific region. End. The PACER Plus trade deal is led by New Zealand and Australia and has nine Pacific Island signatories, but only Samoa has ratified it. The remaining signatories that are yet to ratify are Nauru, Tuvalu and Vanuatu. This will impact the current Post-Cotonou negotiations between the Pacific islands and Europe, which are set to be concluded at the end of the year. Photo: Cook Islands News. The Australia and New Zealand-led deal was signed in 2017, although two of the region's biggest economies, Papua New Guinea and Fiji, have refused to join. The Agreement entered into force on 13 December 2020. As with every Agreement, however, it will be up to us to take advantage of those opportunities in the months ahead.” As with every Agreement, however, it will be up to us to take advantage of those opportunities in the months ahead.” Eleven countries signed the agreement. PACER Plus negotiations began in 2009 and ended in 2017 with the Cook Islands and other Forum Members signing the Agreement at a special ceremony in Nuku’alofa, Tonga, on 14 June 2017. Cook Islands was the eighth nation to ratify PACER Plus , enabling the agreement to enter into force. Countries out of … As with every Agreement, however, it will be up to us to take advantage of those opportunities in the months ahead. Trade and prosperity in the Pacific will thrive following formal notification that Cook Islands is the eighth state to ratify the Pacific Agreement on Closer Economic Relations Plus (PACER Plus), triggering its formal entry into force in 60 days. Eight ratifications are needed to bring the trade agreement into force. The remaining signatories yet to ratify are Nauru, Tuvalu and Vanuatu. “PACER Plus ready to go sends a very strong message that the Pacific region and New Zealand are ready to do business,’ Fiso John Fiso said. Trade and Export Growth Minister David Parker welcomed the announcement that the Cook Islands is the eighth nation to ratify this landmark agreement. The remaining signatories yet to ratify are Nauru, Tuvalu and … Last October, the Cook Islands put its ratification on hold over fears it would miss out on economic assistance when it graduated to developed-country status. Cook Islands finance minister Mark Brown The eleven countries who have signed the PACER Plus Agreement are Australia, Cook Islands, Kiribati, Nauru, New Zealand, Niue, Samoa, Solomon Islands… In contrast to previous trade agreements to which the Cook Islands is party, PACER Plus includes detailed provisions not only on trade in goods but also trade in services and investment, increasingly important areas of international trade. As Cook Islands Prime Minister Mark Brown said, “We are certain that PACER Plus will open new trade and investment opportunities for the Cook Islands that have not existed before. The Cook Islands is the eighth signatory of PACER Plus to ratify the Agreement, thus bringing the Agreement into force with the Cook Islands being one of the original parties. Cook Islands was the eighth country to ratify PACER Plus, following Kiribati, New Zealand, Niue, Samoa, Solomon Islands, Tonga and Australia. By the middle of the year the required number of countries are expected to have ratified it, allowing the deal to come into force. The objective of the Agreement is to maximise opportunities for Forum Island Countries (FICs) to use trade and investment as engines of growth, to create jobs and ensure higher incomes and living standards. Cook Islands puts PACER Plus ratification on hold The Cook Islands is putting its ratification of the regional trade deal known as PACER Plus on hold. PACER Plus is a regional trade, development and economic cooperation agreement between Pacific Island Countries and Australia and New Zealand covering trade in goods, services and investment. Cook Islands to ratify PACER Plus The PACER Plus trade deal is led by New Zealand and Australia and has nine Pacific Island signatories, but only Samoa has ratified it . Prior to entry into force of the Agreement in December, MFAI will coordinate a final round of national consultations to explain key provisions of the Final Agreement and identify trade-related needs. In the third and final piece of a three-article series, Wesley Morgan calls for nations like Australia to cement the long-term relationship with its Pacific family and build a more integrated regional economy. Pacer Plus set to come on stream later this year - Cooks Deputy PM. By Rashneel Kumar RAROTONGA, Cook Islands (Cook Islands News, April 28, 2017) – The Pacific Agreement on Closer Economic Relations (PACER) Plus deal is as much about development as it is about trade for the Cook Islands, says prime minister Henry Puna. Eight countries are need to ratify the trade agreement to bring it into force. Prime Minister Mark Brown has today signed the Cook Islands’ Instrument of Ratification for the Pacific Agreement on Closer Economic Relations Plus (PACER Plus) following completion of domestic processes and approval by Cabinet this morning. On signing the Instrument of Ratification, Prime Minister Brown stressed the importance of PACER Plus for the Cook Islands: “economic diversification is a cornerstone of our development strategy and international trade policy must be an important strategic tool we use to strengthen and diversify our economy. In recent years MFAI has been proactive in consulting with national stakeholders from the public and private sectors and civil society about the Agreement. The PACER Plus negotiations helped clarify that Pacific economies face unique hurdles to international trade. PACER Plus is a one-way trade deal and squandered opportunity for the Pacific islands writes Adam Wolfenden. PACER Plus is a free trade agreement between members of the Pacific Islands Forum (the Forum Island Countries plus Australia and New Zealand). As with every Agreement, however, it will be up to us to take advantage of those opportunities in the months ahead.” Agriculture Minister David Littleproud said PACER Plus was an important part of our broader engagement in the Pacific and provided an avenue to help foster a secure and stable region. Frank Grozel & Poul Hansen United Nations Conference on Trade and Development (UNCTAD) This comes as New Zealand last week became the first country to ratify the deal that has also been signed by nine Pacific countries and Australia. As Cook Islands Prime Minister Mark Brown said, “We are certain that PACER Plus will open new trade and investment opportunities for the Cook Islands that have not existed before. As with every Agreement, however, it will be up to us to take advantage of those opportunities in the months ahead.” PACER Plus is due to enter into force on 13 December 2020, and will mark the largest free trade agreement (FTA) to focus on trade amongst Pacific Island nations. Te Kauono Tutara e te Mana Tiaki – Ministry of Foreign Affairs and Immigration. For more information or queries contact MediaOCO@ocosec.org. Tonga's government has committed to ratifying the Pacer Plus trade deal. The Cook Islands Trade Portal is a trade facilitation platform implemented by the government of the Cook Islands, in the context of the PACER Plus agreement, with technical assistance from UNCTAD and funding from Australia and New Zealand ... Tonga, Solomon Islands, Niue and Cook Islands. Australia, the Cook Islands, Kiribati, Niue, Samoa, Solomon Islands, Tonga and New Zealand have now ratified. Cook Islands was the eighth country to ratify the agreement on 14 October 2020, triggering the 60-day countdown for PACER Plus to enter into force. PACER Plus will enter into force on 13 December. Queries regarding this release can be directed to Antonina.Browne@cookislands.gov.ck. "PACER Plus will make trade easier for signatories to the agreement, which will grow jobs, boost sustainable economic growth and contribute to a safer and more prosperous Pacific," David Parker said. PACER Plus is within the scope of WikiProject Australia, which aims to improve Wikipedia's coverage of Australia and Australia-related topics. Of great importance for the Cook Islands are the associated commitments of Australia and New Zealand to provide Aid-for-Trade assistance (AUD 25 million) to enable FIC parties to PACER Plus to build their capacities to be able to take advantage of opportunities that will become available under the Agreement. 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