Pacific Island Countries Trade Agreement
- Pacific Island Countries Trade Agreement
The Pacific Island Countries Trade Agreement (PICTA) aims to establish a free-trade area between fourteen of the Pacific Islands Forum countries. The Pacific Islands Forum countries are the PICTA countries plus AUS and NZL. As of November 2006, it had been signed by twelve countries (not signed by Marshall Islands or Palau per PICTA status report)
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As of March 2008, six countries had announced that domestic arrangements had been made enabling them to trade under the agreement:[ [http://www.forumsec.org/_resources/article/files/PICTA%20Status%20Report.pdf PICTA status report] ] ]* Cook Islands
* Fiji
* Niue
* Samoa
* Solomon Islands [ [http://www.forumsec.org/pages.cfm/newsroom/press-statements/2007/solomon-islands-ready-trade-under-picta.html "Solomon Islands Ready to Trade Under PICTA"] , Pacific Islands Forum Secretariat]
* Vanuatu [ [http://english.people.com.cn/90001/90777/90851/6365013.html "Vanuatu ready to trade under PICTA"] , People's Daily Online]
After entry into force, countries commit to remove tariffs on most goods by 2021. As of April 2008, The Forum Island Countries are also negotiating an Economic Partnership Agreement (EPA) with the flag|European Union.
It is important to note that the PICTA trade agreement discussed here covers only trade of goods. As of April 2008, there is an ongoing negotiation to design and agree on a protocol to include trade in services and the temporary movement of natural persons (a broader concept than the GATS' Mode 4).
References
External links
* [http://www.forumsec.org/_resources/article/files/PICTA%20Text.pdf Full PICTA text]
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