Niue greeting for PM Jacinda Arden's 2018 visit. Photo / File
A trade agreement aimed at supporting Pacific economies has come into force today, Trade Minister Phil Twyford said in a statement Sunday.
The Pacific Agreement on Closer Economic Relations Plus (PACER Plus) provides for goods and services produced in the region to be sold within the Pacific and globally,
“PACER Plus will be instrumental in supporting Pacific economies to rebuild from the devastating impacts of Covid-19,” Twyford said.
The Trade Minister said the agreement will act as an engine of economic growth and sustainable development for the Pacific.
New Zealand has agreed to commit 20 per cent of the country's official development assistance towards Aid for Trade activities in the region.
The parties to the agreement include Australia, Cook Islands, Kiribati, Niue, Samoa, Solomon Islands, Tonga and New Zealand.