Benefits for Pacific Island countries
PACER Plus aims to boost sustainable economic development and contribute to a more stable and resilient Pacific region. It will help to drive economic growth, including creating jobs, higher incomes and more opportunities for people.
For Pacific Island countries, PACER Plus provides:
- Opportunities for trade diversification
- A more welcoming environment for high quality foreign investment
- Access to trade-related development assistance
- Enhanced labour mobility opportunities across the region
- PACER Plus will support Pacific Island countries to enhance their trading capacity into regional and global markets – to grow faster, innovate and improve productivity
Watch a video about the Benefits of PACER Plus for Pacific signatories.
PACER PLUS - BENEFITS
Benefits for New Zealand businesses
PACER Plus improves the business environment in the Pacific region for exporters and investors across a wide range of sectors.
For New Zealand businesses, PACER Plus provides:
- improved market access
- greater consistency, certainty and transparency trading in the Pacific region
- opportunities to invest or partner with Pacific businesses.
Trade highlights
Key trade benefits of PACER Plus include:
- more consistent and transparent trading rules throughout the region on sanitary and phytosanitary measures, technical barriers to trade, and customs procedures
- more liberal and product-specific rules of origin
- a more stable and predictable environment for foreign investment
- greater certainty around tariffs for exporters provided through transparency requirements and online trade portals
- a more mobile labour force in the region under the Labour Mobility Arrangement.
PACER Plus One Year Anniversary:
The first anniversary of PACER Plus was marked on 13 December 2021, following a panel discussion with Māori and Pasifika entrepreneurs and leaders.(external link)
Ministers announced the establishment of InvestPacific(external link), a New Zealand-based investment fund for the Pacific which compliments the investment architecture set up under PACER Plus.
The panel of entrepreneur and leaders discussed topics including: sustainable trade in the Pacific, how to build a sustainable Pacific labour force, tourism, technological exchange, and trade and investment.