Trade Ministers from fourteen Pacific Islands Forum Countries on 20 April concluded their negotiation on the Pacific Agreement on Closer Economic Relations Plus, PACER Plus. 

The PACER Plus Chief Trade Adviser in Vanuatu stated that Negotiating Parties are currently preparing the text for legal release, and plan to sign the agreement at a ceremony in Tonga on 16 June 2017.

Negotiation on the PACER Plus trade agreement between Australia and New Zealand, and 14 other Pacific Island countries began on August 2009.

The two Pacific Islands Countries that opted out from PACER Plus were Papua New Guinea and Fiji.

The 14 countries that concluded the negotiation on PACER plus on 20 April were Australia, New Zealand, Tonga, Federated States of Micronesia, Kiribati, Nauru, Niue, Palau, Republic of Marshall Islands, Samoa, Solomon Islands, Cook Islands, Tuvalu and Vanuatu.

PACER Plus is a landmark trade and development agreement covering trade in goods, services and investment in support of economic growth in the pacific region.

This trade agreement will remove barriers to trade, including tariffs, at a pace that takes into account the varied levels of development, and the unique vulnerability and fragility of Smaller Island States and Small Island Developing States.

Under the Agreement, Australia and New Zealand will jointly provide AUD$7.7 million to help parties make the legal changes necessary for implementation in advance of the agreement entering into force.

A further AUD$25.5 million in development assistance will be made available after ratification to enable Pacific Island countries to take full advantage of the agreement.

This package would be implemented by increased spending on aid for trade with a view to enhancing the participation of the Pacific Island Countries in international trade.

Australia with its Strategy for Aid for Trade Investments, has undertaken to target 20% of its total overseas development assistance budget for aid for trade.

Complementing the agreement is a stand-alone Labour Mobility Arrangement, which will establish a broad framework for labour mobility cooperation and support efforts to build labour supply capacity in Pacific Island Countries.