PACER Plus will only enter into force after eight of the signatory countries step in to ratify. The PACER Plus trade deal is led by New Zealand and Australia and has nine Pacific Island signatories, but only Samoa has ratified it. Eight ratifications are needed to bring the trade agreement into force. Australia, Cook Islands, Kiribati, Niue, Samoa, Solomon Islands, Tonga and New Zealand have now ratified. 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. End. PACER Plus covers trade in goods (rules of origin and verification procedures, customs procedures, biosecurity The trade deal known as Pacer Plus will have immediate benefits for the Cook Islands when it comes into force later this year, says the Cooks' deputy prime minister. "To assist Pacific Island countries' agencies, such as their trade agencies, such as their customs agencies, such as their quarantine agencies to be up to speed with any requirements for compliance that is needed in terms of their inwards trade as well as their outwards trade.". 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 is due to enter into force on 13 December 2020, and will mark the largest free trade agreement (FTA) to … 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. PACER Plus is an agreement that has been sold as a positive development outcome for Pacific Island Countries (PICs). 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. Last October, the Cook Islands put its ratification on hold over fears it would miss out on economic assistance when it … About OCO: OCO is a grouping of 23 customs administrations in the Pacific region. 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. 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. This assistance is now being extended to PACER Plus parties: Kiribati, Cook Islands and Niue, along with existing support for Papua New Guinea, Fiji, Tonga, Samoa, Vanuatu and Solomon Islands. Mark Brown said the first benefit would be access to help from New Zealand and Australia. Cook Islands is the eighth signatory to PACER Plus, joining Australia, Kiribati, New Zealand, Niue, Samoa, Solomon Islands and Tonga. If you would like to participate, visit the project page. “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. PACER Plus is a free trade agreement between members of the Pacific Islands Forum (the Forum Island Countries plus Australia and New Zealand). Last October, the Cook Islands put its ratification on hold over fears it would miss out on economic assistance when it graduated 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. Quoting Radio New Zealand – 21 February 2020 “The trade deal known as Pacer Plus will have immediate benefits for the Cook Islands when it comes into force later this year, says the Cooks' deputy prime minister. Pacer Plus set to come on stream later this year - Cooks Deputy PM. The Cook Islands had put its ratification on hold because of fears it would miss out on development assistance, but Mark Brown says the deal will be ratified in June. The remaining signatories that are yet to ratify are Nauru, Tuvalu and Vanuatu. This assistance is now being extended to PACER Plus parties: Kiribati, Cook Islands and Niue, along with existing support for Papua New Guinea, Fiji, Tonga, Samoa, Vanuatu and Solomon Islands. “PACER Plus enters into force for Australia, Cook Islands, Kiribati, New Zealand, Niue, Samoa, Solomon Islands and Tonga,” Minister Littleproud said. Te Kauono Tutara e te Mana Tiaki – the Ministry of Foreign Affairs and Immigration (MFAI) is responsible for Government trade policy matters and has led the Cook Islands participation in PACER Plus-related activities. The Cook Islands delegation to the PACER Plus meetings also participated in the Pacific ACP Trade Officials and Ministers Meetings, as well as the Forum Trade Officials and Ministers Meetings. Pacific regional trade and development agreement PACER Plus will enter into force in 60 days now that the required eight countries have ratified it. 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.” 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. Pacer Plus set to come on stream later this year - Cooks Deputy PM. 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. The trade deal known as Pacer Plus will have immediate benefits for the Cook Islands when it comes into force later this year, says the Cooks' deputy prime minister. 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. The PACER Plus trade deal is led by New Zealand and Australia and has nine Pacific Island signatories, but only Samoa has ratified it. Cook Islands Prime Minister Henry Puna has signalled his government will shortly ratify a major regional trade agreement. Te Kauono Tutara e te Mana Tiaki – Ministry of Foreign Affairs and Immigration. 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 eleven countries who have signed the PACER Plus Agreement are Australia, Cook Islands, Kiribati, Nauru, New Zealand, Niue, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu, while eight have ratified the agreement. 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. Other parties to PACER Plus to date are Australia, Kiribati, New Zealand, Niue, Samoa, Solomon Islands and Tonga. PACER Plus opened for signature on 14 June 2017, and has been signed by Australia, New Zealand and nine Pacific island countries (Cook Islands, Kiribati, Nauru, Niue, Samoa, Solomon Islands, Tonga, 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. Queries regarding this release can be directed to Antonina.Browne@cookislands.gov.ck The agreement expands the existing Pacific Agreement on Closer Economic Relations (PACER) to include further trade liberalisation and development assistance. PACER Plus will enter into force on 13 December. A Canadian analyst says a regional free trade agreement in the Pacific will assault Pacific island economies and give China a strategic opening in the region. PACER Plus entered into force on 13 December 2020. PACER Plus is due to enter into force on 13 December 2020, and will mark the largest free trade agreement (FTA) to … The Cook Islands is putting its ratification of the regional trade deal known as PACER Plus on hold. As with every Agreement, however, it will be up to us to take advantage of those opportunities in the months ahead.” We have participated actively over the years in the PACER Plus negotiations and fought hard to ensure that the Agreement will work for us. The remaining signatories yet to ratify are Nauru, Tuvalu and Vanuatu. Australia, the Cook Islands, Kiribati, Niue, Samoa, Solomon Islands, Tonga and New Zealand have now ratified. 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. After more than a decade of negotiations, the region's PACER Plus free trade deal is set to start on December the 13th. Cook Islands Prime Minister Mark Brown says the agreement is important to his country: “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 … PACER Plus negotiations commenced in 2009 and the Agreement was opened for signature in Nuku'alofa on 14 June 2017. The Cook Islands delegation to the PACER Plus meetings also participated in the Pacific ACP Trade Officials and Ministers Meetings, as well as the Forum Trade Officials and Ministers Meetings. Eleven countries signed the agreement. (Source: RNZ pacific news Queries regarding this release can be directed to Antonina.Browne@cookislands.gov.ck. 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. Pacific Islands Forum means the Pacific Islands Forum, as referred to in the Agreement Establishing the Pacific Islands Forum Secretariat; 1 For the purposes of this Agreement, for the Cook Islands, nationality means a person belonging to the part of Pacer Plus countries currently include Australia, Cook Islands, Kiribati, Nauru, New Zealand, Niue, Samoa, Solomon Islands and Tonga. For more information or queries contact MediaOCO@ocosec.org. The Cook Islands Finance Minister Mark Brown said the decision to hit pause on the … Cook Islands Ministry of Finance. "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. Cook Islands was the eighth country to ratify PACER Plus, following Kiribati, New Zealand, Niue, Samoa, Solomon Islands, Tonga and Australia. Puna says stronger economy will benefit Cook Islands in the long term. 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. 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. The eleven countries who have signed the PACER Plus Agreement are Australia, Cook Islands, Kiribati, Nauru, New Zealand, Niue, Samoa, Solomon Islands… 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. 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 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. 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