Closer Agreement

September 14th, 2021

The agreement stipulates that year 1 LDC for tariff reductions will be the calendar year following the date of its graduation from LDCs. Solomon Islands, for example, will be considered for graduation at the next triennial review of the UN Development Committee in March 2018. If Solomon Islands were recommended for closure and if such a recommendation was approved by the UN Economic and Social Council and the General Assembly, the country could be completed as early as 2021, although later dates are also possible. Tariff reductions could therefore begin in 2022. Most tariffs would be zero by 2032 and tariffs on all products would be eliminated by 2047. it does not contain substantive provisions on trade liberalization; rather, it provides for a gradual process of trade liberalization. This begins with a Pacific Island Countries Trade Agreement (PICTA), which will be implemented from September 2008 and is likely to be extended to services at a later date. Pacer provides assistance programs to members of the island state, with trade facilitation and capacity building. It also hints at future negotiations on reciprocal free trade of the Forum (including Australia and New Zealand). For the time being, these negotiations are not scheduled until 2011, but they will probably be brought forward as a result of the Negotiations of the Pacific Island States for an Economic Partnership Agreement with the European Union. For signatories, PACER Plus replaces an earlier single-use agreement called SPARTECA, the South Pacific Regional and Economic Cooperation Agreement, which gave the Pacific Islands duty- and quota-free access to Australia and New Zealand. PACER Plus, a mutual agreement, maintains this market access, but commits Pacific Island members to reduce import duties over time and liberalize trade and investment in the services sector. PACER Plus is the proposed free trade agreement between the Forum Island States and Australia and New Zealand.

The Forum Island States strongly believed in the need for an independent body to provide advice and support in the PACER Plus negotiations, which is why the Office of the Chief of the Trade Adviser (OCTA) should be established. On 29 March 2010, Chris Noonan, Chief of the Trade Adviser, was appointed, the first step towards the creation of the Office of the Head of the Trade Adviser. OCTA`s independence may have been compromised by the assistance it receives from some donor organizations. It was first launched on 18 Signed at Nauru on 3 August 2001 and entered into force on 3 October 2002. It is a framework agreement that sets out a framework for the future development of trade and economic relations throughout the Forum region. The Australia New Zealand Closer Economic Agreement (ANZCERTA), which entered into force in 1983, was Australia`s first bilateral agreement. ANZCERTA has created one of the most open and successful free trade agreements in the world. . . .

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