Landmark trade and development agreement reviewed in SI to assess benefits & determine possible modifications
THE Pacific Agreement on Closer Economic Relations Plus (PACER Plus) has undergone a general review in Solomon Islands to assess its benefits to the country.
PACER) Plus which is dubbed a landmark trade and development agreement aims to raise living standards, create jobs and increase exports from Pacific Island countries and to lower barriers and provide greater certainty for businesses operating in the Pacific.
This was in line with the provisions contained in the development-centred free trade agreement that entered into force on 13 December 2020.
The review was conducted by two independent consultants from New Zealand on January 30 and 31 2024 with various stakeholders from the Solomon Islands Government and Private Sector representatives in Honiara.
The objective of the review amongst others was to assess the benefits of the PACER Plus for Parties, assess the implementation of the Agreement since entry into force in 2020 and identify required modifications to the PACER Plus Development and Economic (DEC) Work Programme.
The review also covered the existing governance structure of the PACER Plus Implementation Unit (PPIU), including the Terms of References of the PACER Plus Joint Committee and Subsidiary Bodies, strengthen Parties’ observations of the PACER Plus provisions and obligations and consider the parallel independent review of the Arrangement on Labour Mobility and any implications on the PACER Plus.
Key areas in which Solomon Islands received support from PACER Plus includes Customs, Biosecurity, Food Safety, Tourism, Labour Mobility and Private Sector support.
As stipulated under the Agreement and from directions by the Joint Committee made up of all PACER Plus parties, the Work Programme of the Agreement shall be reviewed within three years of the commencement of its implementation, and thereafter at regular intervals to assess its overall effectiveness in terms of assisting the developing country Parties to implement their PACER Plus Obligations.
The ten Pacific Islands Forum members that have ratified and have been Party to the Agreement since its entry into force on 13 December 2020 are Australia, Cook Islands, Kiribati, New Zealand, Niue, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu.
