Vanuatu has become the eleventh Pacific island country to sign the PACER Plus trade agreement.
Prime Minister Charlot Salwai signed the trade agreement with Australia and New Zealand at the margins of the 48th Pacific Islands Forum Leaders meeting in Apia, Samoa today.
“By doing so Vanuatu is taking on duties and responsibilities to ensure marketable goods and services are secured in the region for the foreseeable future,” he said following the signing ceremony.
“This also shows that Vanuatu will be able to join the rest of the Forum family to travel together on a long journey of exciting possibilities. Vanuatu is always ready to do business and we have reaffirmed by signing this agreement today.”
Mr Salwai called on Australia and NZ to increase the Development Assistance programme to the Pacific – in the bilateral programme as well as from the PACER Plus to support the Aid for Trade needs.
“We invite more foreign investors to come to Vanuatu and do business with us – with low tax regime, efficient services and close proximity to the markets now available.”
The Council of Ministers last week gave the Vanuatu Government the greenlight to sign the trade agreement.
Vanuatu did not participate in a signing ceremony in Tonga in June saying it needed more time.
There was also strong opposition from NGOs, churches and MPs.
Mr Salwai said there were consultations with the civil society and private sector and they needed to see what was in the trade agreement.
He has called on Australia to remove the ban on the commercial export of Vanuatu kava.
Mr Salwai also said the issue of visa waiver for Ni Vanuatu will be subject to further bilateral with New Zealand and Australia in the coming months.
Fiji and Papua New Guinea have not signed PACER Plus.
Federated States of Micronesia, Palau and the Republic of Marshall Islands are also yet to sign the trade agreement.
Photo by Loop Vanuatu. Caption: Prime Minister of Vanuatu, Charlot Salwai signs the PACER Plus trade agreement