Niue Announces its Readiness to Trade Under PICTA
PRESS STATEMENT (104/07)
21st August 2007
NIUE ANNOUNCES ITS READINESS TO TRADE UNDER PICTA
Niue has announced that it is now ready to trade under the Pacific Island Countries Trade Agreement (PICTA) terms and conditions effective from 1 August 2007.
Honourable Bill Vakaafi Motufoou, Niue’s Minister for Investment, Trade and Shipping said that PICTA certainly provides opportunities for Niue to trade under preferential terms with the Forum Island Countries. "Niue has been working with the Private Sector in developing capacity for them to engage in exports and in general trade within the region," the Minister added.
In a letter to the Pacific Islands Forum Secretariat (PIFS), the Secretariat for PICTA, the Niue Government indicated that the Customs Tariff Regulations 2007 has been enacted allowing for the reduction and elimination of tariffs on imports of originating goods from the Countries that are Parties to PICTA. Niue announced that the administrative requirements and all the domestic legislative processes required for Niue to commence trade under PICTA have been completed.
"I congratulate the Government of Niue for making the necessary arrangements that now enables them to trade under PICTA," Greg Urwin, Secretary General of the Forum Secretariat said.
PICTA came into force on 13th April 2003 and provides for the Forum Island Countries (FICs) Party to PICTA to liberalise trade among them by gradually reducing the import duty on goods that originate from the FICs.
This announcement makes Niue the fourth country to be trading under PICTA. The other countries already trading under PICTA are Cook Islands, Fiji and Samoa. Kiribati, Nauru, Papua New Guinea, Solomon Islands, Tonga and Vanuatu are in the process of completing their domestic requirements prior to announcing trading under PICTA. The Federated States of Micronesia and Tuvalu are yet to ratify PICTA while Palau and the Republic of Marshall Islands are to make a decision on their accession to PICTA.
Pacific Leaders have given high priority to the implementation of PICTA in the Pacific Plan. "I urge the rest of the FICs to expedite the implementation of PICTA, as agreed to by the Pacific Leaders," Mr Urwin said.
(Ends)
For more information contact Mr. Shiu Raj, Trade Policy Adviser (PICTA) on shiur@forumsec.org.fj
21st August 2007
NIUE ANNOUNCES ITS READINESS TO TRADE UNDER PICTA
Niue has announced that it is now ready to trade under the Pacific Island Countries Trade Agreement (PICTA) terms and conditions effective from 1 August 2007.
Honourable Bill Vakaafi Motufoou, Niue’s Minister for Investment, Trade and Shipping said that PICTA certainly provides opportunities for Niue to trade under preferential terms with the Forum Island Countries. "Niue has been working with the Private Sector in developing capacity for them to engage in exports and in general trade within the region," the Minister added.
In a letter to the Pacific Islands Forum Secretariat (PIFS), the Secretariat for PICTA, the Niue Government indicated that the Customs Tariff Regulations 2007 has been enacted allowing for the reduction and elimination of tariffs on imports of originating goods from the Countries that are Parties to PICTA. Niue announced that the administrative requirements and all the domestic legislative processes required for Niue to commence trade under PICTA have been completed.
"I congratulate the Government of Niue for making the necessary arrangements that now enables them to trade under PICTA," Greg Urwin, Secretary General of the Forum Secretariat said.
PICTA came into force on 13th April 2003 and provides for the Forum Island Countries (FICs) Party to PICTA to liberalise trade among them by gradually reducing the import duty on goods that originate from the FICs.
This announcement makes Niue the fourth country to be trading under PICTA. The other countries already trading under PICTA are Cook Islands, Fiji and Samoa. Kiribati, Nauru, Papua New Guinea, Solomon Islands, Tonga and Vanuatu are in the process of completing their domestic requirements prior to announcing trading under PICTA. The Federated States of Micronesia and Tuvalu are yet to ratify PICTA while Palau and the Republic of Marshall Islands are to make a decision on their accession to PICTA.
Pacific Leaders have given high priority to the implementation of PICTA in the Pacific Plan. "I urge the rest of the FICs to expedite the implementation of PICTA, as agreed to by the Pacific Leaders," Mr Urwin said.
(Ends)
For more information contact Mr. Shiu Raj, Trade Policy Adviser (PICTA) on shiur@forumsec.org.fj
