Hon Todd McClay

Minister of Trade

31 May 2017

Details released for landmark Pacific trade deal

Trade Minister Todd McClay says the public release of the PACER Plus text will help highlight the important benefits of the landmark trade and development deal for New Zealand and the Pacific.

The release of the text, agreed to by all 14 countries, is consistent with a renewed commitment to improving engagement and transparency around trade issues and will be followed up with a public outreach programme in the coming months.

“The text shows how this carefully crafted trade and development agreement will help raise standards of living, create employment opportunities and increase export capacity in Pacific Island countries,” Mr McClay says.

“It outlines the $55 million development package and how PACER Plus will assist the sustainable growth of the Pacific economies through trade.”

“It also shows how New Zealand has secured lower tariffs on the vast majority of our traditional trade interests and how our exporters will save an estimated $20 million a year on tariffs once the agreement is fully in force.”

A range of factsheets will also be published the MFAT website and further supporting details will be updated, including dates and locations for the public meetings, as they are available.

“I encourage everyone to make the most of these sessions so that the full benefits of the agreement are realised, both for New Zealand and our region,” Mr McClay says.

“An important focus of Trade Agenda 2030, our new trade strategy, is for improved transparency and better engagement. Trade equals jobs and we want New Zealanders to better understand the close relationship trade has with our country’s economic growth.”

Link to text: www.mfat.govt.nz/pacer

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