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New Zealand looks to advance Pacific trade, economic pact

Xinhua, October 27, 2015 Adjust font size:

New Zealand Associate Trade Minister Todd McClay will be looking to advance talks on a Pacific trade and economic agreement at talks in the Cook Islands this week.

Pacific Trade Ministers meeting in Rarotonga would discuss the regional trade agenda, including advancing negotiations of the Pacific trade agreement, PACER Plus, McClay said in a statement Tuesday.

The Pacific Agreement on Close Economic Relations (PACER) Plus talks on regional trade and economic integration involve the 14 Pacific island states of the Pacific Islands Forum plus Australia and New Zealand.

"Trade is one of the many important strands to New Zealand's relationship with Pacific Island countries. The future of the Pacific's regional economic development rests in finding ways to facilitate trade linkages and reducing supply side constraints," said McClay.

"New Zealand has a direct and indirect influence on the economic prospects of Pacific island countries. Fisheries, tourism, and agriculture represent significant opportunities, and agreements such as PACER Plus can deliver an increase in economic performance across the region." Endit