Trade Minister Todd McClay says a new era of closer economic relations with the Pacific has dawned following the signing of the PACER Plus trade and development agreement in Tonga today.

“This is a landmark moment for the economic future of the Pacific. Pacer Plus will help sustainably develop the countries involved through trade and help raise the standard of living for their people. A more resilient and prosperous Pacific is in all of our interests,” Mr McClay says.

“In the short-term, the Pacific countries who have signed this agreement will benefit economically and socially through the joint NZ Australia $55 million development package. Long-term, trade will help transform their economies by providing reliable income and sustainable growth.”

“PACER Plus also benefits New Zealand businesses by establishing a common set of trading rules covering goods, services and investment. These rules will reduce tariffs and red tape for New Zealand exporters and investors as well as future-proof competitive access for our companies.”

More information on PACER Plus will be available to business and the general public in a series of other upcoming public engagements on New Zealand’s full trade agenda.

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