Solomon Islands is the sixth country to ratify Pacer Plus. The agreement comes into force 60 days after at least eight of the 11 signatories have ratified.
The EU has decided to include the Solomon Islands in its trade agreement with the Pacific states, which will allow tuna caught there to be exported to EU markets without duties.
The two leaders signed several agreements, including one about cooperating with the Belt and Road infrastructure initiative, and others on economic and education strategies.
EU official welcomed Solomon Islands’ interest in joining the existing Economic Partnership Agreement.
The fifth trade committee under the EU-Pacific states interim EPA brought together Papua New Guinea, Fiji, and the European Union. Solomon Islands and the Samoa were invited to participate as observers.
PACER-Plus will have a serious impact on the ability for Solomon Islanders to determine for themselves their own development future.
Fiji has signed a new version of the Melanesian Spearhead Group (MSG) Free Trade Agreement (FTA) with its member countries
A Melanesian Free Trade Agreement is expected to come into force after negotiations for a new deal concluded in Vanutau.
The Melanesian Spearhead Group (MSG) will have to work on the new and stronger MSG trade agreement (MTA) before the finalisation of the Pacific Agreement on Closer Economic Relations (PACER) Plus.
The Melanesian Spearhead Group (MSG) of which Solomon Islands is a part of, is now ready to implement its Free Trade Agreement between at least three of its four members.
The Solomon Islands’ biggest umbrella body for community service organisations on Saturday warned against rushing into PACER-Plus – a free trade agreement proposed between Pacific Island countries, Australia and New Zealand.
Solomon Islands will not sign an interim Agreement if Pacific-ACP countries fail to complete negotiations of the European Partnership Agreement by the end of December. "We should not be rushed or influenced by either regional solidarity or integration to sign any agreement that may prove disadvantageous to our development," Foreign Affairs and Trade Minister Patteson Oti stated.