New Zealand aims to push forward Pacific trade deal in Fiji

New Zealand Trade Minister Todd McClay will go to Fiji next week in a bid to advance a controversial trade deal involving 16 Pacific nations.

Last month, New Zealand hosted Pacific trade representatives for crucial talks towards finalizing the Pacific Agreement on Closer Economic Relations Plus (PACER Plus) trade and development agreement and "good progress" was made, with the negotiating texts agreed, McClay said Friday.

"However, the momentum needs to be maintained in order to ensure the benefits of PACER Plus are available to all Pacific Island countries and their citizens," McClay said in a statement.

The landmark trade and development agreement aimed to create jobs, raise standards of living and encourage sustainable economic development in the Pacific region, he said.

McClay would also hold talks with Fijian Minister for Industry and Trade and Tourism, Faiyaz Koya, and attend the Fiji-New Zealand, Fiji-Australia Joint Business Council Conference.

New Zealand, Australia, the Cook Islands, the Federated States of Micronesia, Fiji, Kiribati, Nauru, Niue, Palau, Papua New Guinea, the Marshall Islands, Samoa, the Solomon Islands, Tonga, Tuvalu and Vanuatu are involved in the PACER Plus negotiations.

At last month's meeting, New Zealand and Australia announced a joint funding package worth 7.7 million AU dollars (5.88 million U.S. dollars) to help Pacific island countries with their domestic ratification processes.

Ministers agreed to conclude remaining market access negotiations by the end of October and sign the agreement by the end of this year.

Civil society groups have criticized the deal, saying Pacific people will most likely lose out and citing concerns about the potential impact of encouraging more foreign investment and greater access for overseas companies.

Source : XINHUA