Vanuatu ready to trade under PICTA
PRESS STATEMENT (08/08)
29th February 2008 VANUATU READY TO TRADE UNDER PICTA The Republic of Vanuatu has completed the domestic requirements to be able to trade under the terms and conditions of the Pacific Island Countries Trade Agreement (PICTA). In a communication to the Pacific Islands Forum Secretariat (PIFS) this week, the Government of Vanuatu advised PIFS of Vanuatu’s readiness to trade under PICTA. Vanuatu is the sixth country which has formally announced the completion of domestic requirements to enable trading under PICTA. Vanuatu joins the Cook Islands, Fiji, Niue, Samoa and Solomon Islands. “Vanuatu is committed to the deepening of trade in the region. PICTA provides the opportunity for the private sector to gain from trade preferences when exporting to the Forum Island Countries. I encourage the private sector in the region to explore these opportunities and increase intra-regional trade,” says Hon. James Bule, Vanuatu’s Minister of Trade. PICTA provides for the gradual reduction of import duties on goods that originate from the Forum Island Countries. The reduction of import duties have commenced since 1st January 2007 for some countries party to PICTA, while for others it will commence on 1st January 2009. “Vanuatu’s announcement shows the renewed commitment from the FICs in supporting increased trade among the FICs,” says Feleti Teo, Acting Secretary General of the Pacific Islands Forum Secretariat. He encourages the remaining FICs to expeditiously carry out their outstanding requirements under PICTA as urged by the Forum Leaders. ENDS. For further information, please contact Mr Shiu Raj, Trade Policy Adviser (Pacific Island Countries' Trade Agreement) on phone 679 331 2600 or email shiur@forumsec.org.fj |
2008