Forum Members Consider Studies on Further Trade Liberalisation in the Region
PRESS STATEMENT (98/07)
13th August 2007
FORUM MEMBERS CONSIDER STUDIES ON FURTHER TRADE LIBERALISATION IN THE REGION
Forum Trade Ministers at their recent meeting in Port Vila, Vanuatu considered a report on the Joint Baseline and Gap Analysis Study on an eventual comprehensive framework for trade and economic cooperation between Forum Island Countries (FICs) and Australia and New Zealand.
The Report highlighted the opportunities, constraints and challenges facing FICs in advancing integration in global economy.
While noting the Report, Ministers recalled the objective of the Pacific Agreement on Closer Economic Relations (PACER), which is to establish a framework for gradual trade and economic integration of the economies of the Forum Members in a way that is fully supportive of sustainable development of the FICs and to contribute to their gradual and progressive integration into the international economy.
Ministers also stressed that any PACER Plus arrangement, (i.e. moves beyond PACER for deepening regional trade integration), must be much more than a simple trade agreement if it is to succeed in providing a workable framework for deepening regional trade and economic cooperation among the Members, covering such issues as temporary movement of natural persons and fisheries management."
The Trade Ministers also considered a study that detailed the revenue consequences of trade liberalisation in the FICs.
While considering this study, they acknowledged the need for political buy-in and for the FICs to engage in logical fiscal reforms if trade liberalisation was not to negatively affect the revenue/fiscal regimes of Members.
The above studies are being considered by the Forum Members and are expected to be finalized in the next months. It is anticipated that senior officials from Forum Members would meet informally in early 2008 to discuss issues relating to regional trade and economic cooperation.
The need for the private sector and other non-state actors to be involved from the beginning in both the development of policies and the design of initiatives to remove the barriers to trade was also acknowledged at the Forum Trade Ministers’ Meeting.
(Ends)
For more information, contact Mr Peter Forau, the Forum’s Deputy Secretary General, on phone 679 331 2600 or email: peterf@forumsec.org.fj.
13th August 2007
FORUM MEMBERS CONSIDER STUDIES ON FURTHER TRADE LIBERALISATION IN THE REGION
Forum Trade Ministers at their recent meeting in Port Vila, Vanuatu considered a report on the Joint Baseline and Gap Analysis Study on an eventual comprehensive framework for trade and economic cooperation between Forum Island Countries (FICs) and Australia and New Zealand.
The Report highlighted the opportunities, constraints and challenges facing FICs in advancing integration in global economy.
While noting the Report, Ministers recalled the objective of the Pacific Agreement on Closer Economic Relations (PACER), which is to establish a framework for gradual trade and economic integration of the economies of the Forum Members in a way that is fully supportive of sustainable development of the FICs and to contribute to their gradual and progressive integration into the international economy.
Ministers also stressed that any PACER Plus arrangement, (i.e. moves beyond PACER for deepening regional trade integration), must be much more than a simple trade agreement if it is to succeed in providing a workable framework for deepening regional trade and economic cooperation among the Members, covering such issues as temporary movement of natural persons and fisheries management."
The Trade Ministers also considered a study that detailed the revenue consequences of trade liberalisation in the FICs.
While considering this study, they acknowledged the need for political buy-in and for the FICs to engage in logical fiscal reforms if trade liberalisation was not to negatively affect the revenue/fiscal regimes of Members.
The above studies are being considered by the Forum Members and are expected to be finalized in the next months. It is anticipated that senior officials from Forum Members would meet informally in early 2008 to discuss issues relating to regional trade and economic cooperation.
The need for the private sector and other non-state actors to be involved from the beginning in both the development of policies and the design of initiatives to remove the barriers to trade was also acknowledged at the Forum Trade Ministers’ Meeting.
(Ends)
For more information, contact Mr Peter Forau, the Forum’s Deputy Secretary General, on phone 679 331 2600 or email: peterf@forumsec.org.fj.
