Trade Minister Todd McClay tabled the PACER Plus trade and development agreement in Parliament today and has released the National Interest Analysis (NIA), which sets out the benefits of this landmark agreement.
Mr McClay says that PACER Plus is a high quality trade and development agreement which will help drive sustainability and economic certainty for our Pacific Island neighbours.
“The NIA gives comprehensive detail on PACER Plus. It explains how this unique trade and development agreement benefits our close friends in the Pacific and guarantees competitive access for the New Zealand businesses who trade with them,” Mr McClay says.
“As part of Trade Agenda 2030 we’ve committed to engaging New Zealanders more on trade issues. The tabling of the agreement and NIA signals the start of the treaty examination process and will be enhanced by a programme of public meetings to provide more information on PACER Plus.
PACER Plus was signed by Mr McClay in Tonga last week after 8 years of negotiations.
"PACER Plus strikes a fair balance between lowering tariffs and offering greater certainty for New Zealand businesses and investors, while ensuring Pacific Island countries benefit from trade. Those benefits include increased capacity and the modernisation of their economies at a sustainable and realistic pace," Mr McClay says.
"The agreement ensures New Zealand will be treated fairly in any future trade and investment deals that might be done with other trading partners."
The National Interest Analysis, along with a range of factsheets, can be found on the Ministry of Foreign Affairs and Trade’s website.
Note to editors:
More information about PACER Plus: www.mfat.govt.nz/pacer
Public engagement opportunities: www.mfat.govt.nz/tradeengagement