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Saturday, August 11, 2007

Pacific Islands push for review of trade agreement

Forum Island countries from the Pacific are pushing for a review of a trade agreement, the South Pacific Regional Trade and Economic Cooperation Agreement (SPARTECA), according to the Forum Secretariat.

The call for the review is to enable more access of products from Pacific Island countries into Australia and New Zealand.

SPARTECA, which has been in effect from the 1980s, is a non-reciprocal trade agreement under which the two developed nations, Australia and New Zealand, offer duty free or concessional access to products originating from Forum Island Countries.

Australia and New Zealand are said to be ready to negotiate improved market access to make the agreement more equitable.

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