Vanuatu is set to receive a boost in regional trade and economic support under the Pacific Agreement on Closer Economic Relations (PACER Plus), with Australia and New Zealand pledging nearly VT 3 billion for the programme’s next five-year phase.

Pacific trade ministers, including Director of External Trade Joe Pakoa Lui and Vanuatu’s PACER Plus National Coordinator Michael Ligo, met in Honiara, Solomon Islands, to review the first five years of the PACER Plus Development and Economic Cooperation Programme. Vanuatu joined the agreement in 2022 as the 10th member country.

Joe Pakoa Lui, who also participated as a Special Envoy for the Vanuatu government to the PACER Plus Ministerial Meeting in Honiara, highlighted the programme’s focus on strengthening trade, investment, and labour mobility for Pacific nations.

“The aim is to ensure member countries can access Australian and New Zealand markets duty-free. However, challenges remain with market requirements, product standards, and packaging, especially for food exports,” he said.

As part of the announcements, Australia pledged VT 2.07 billion and New Zealand around VT 1 billion to support the next phase of the programme. Funding will help the Vanuatu government and local businesses improve policies, build capacity, and become more competitive in regional trade.

Vanuatu will continue to focus on implementing reforms, strengthening local businesses, and creating new opportunities for citizens through the PACER Plus programme.

“In terms of labour mobility, investment, and trade in services, we want to see more donor support to improve Vanuatu’s performance in these areas,” Pakoa Lui said.