In order to improve trade and economic cooperation with Fiji`s major trading partners, Fiji is a party to a number of trading blocs and trade agreements, whose regional trade agreements play an increasing role in organizing the business environment, labour mobility, investment and contributing to the Sustainable Development Goals. The regional trade integration system has been strengthened through several mechanisms: the non-reciprocal agreements of the South Pacific Regional Economic and Trade Cooperation Agreement (SPARTECA), the free trade agreements concluded under the Pacific Island Countries Trade Agreement (PICTA) and pacific Closer Economic Relations plus PACER Plus between the Pacific Islands Forum Countries and Australia and New Zealand. Regions` access to the EU is defined by an Economic Partnership Agreement and other unilateral EU preferential regimes, such as the “Everything But Arms” (EBA) for least developed countries and the Generalised System of Preferences (GSP) for developing countries. Following the expiry of the Cotonou Agreement, which governed trade and economic relations between the EU and acp countries, Fiji has worked under the PACP to conclude a WTO-compatible regional EPA with the EU. The EU is a traditional Fijian sugar market, while products such as fish, clothing, mineral water and some agricultural raw materials are also present in this lucrative market of around 507 million people in 28 EU Member States. The Treaty establishing the Economic and Trading Community of Micronesia (MTEC) was negotiated between 2012 and 2014 and was recently adopted on 3 Signed and signed by the Presidents of the Federated States of Micronesia, the Republic of the Marshall Islands and the Republic of Palau on 27 September 2014. The long-term vision and objectives of MTEC are to strive to create a business and economic community of shared prosperity, to support the achievement of sustainable and equitable socio-economic development of Member States and to improve the standards and quality of life of their people. countries do not have to apply for the standard GSP; the EU establishes or abolishes it by means of a delegated regulation. The EU may withdraw the standard GSP in exceptional circumstances, in particular in the case of serious and systematic violations of fundamental human and labour rights conventions.
To learn more about SPG, trade.ec.europa.eu/tradehelp/standard-gsp The Pacific Closer Economic Relations Plus Agreement was signed in Nuku`alofa, Tonga on 14 June 2017. Ten members of the forum are signatories: Australia and New Zealand and the Cook Islands, Kiribati, Nauru, Niue, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu. Three have ratified. PACER Plus covers goods, services and investments and has not yet entered into force. Access the PACER Plus document here. Access the Rules of Origin manual here. For more information on the PACER Plus Full Agreement, www.mfat.govt.nz/en/trade/free-trade-agreements/free-trade-agreements-concluded-but-not-in-force/pacer/pacer-plus-full-text/ Multilateral Trade Trade Centres around the World Trade Organisation (WTO), established in 1995 and which contributed to the WTO in 1996. The WTO promotes the principle of non-discrimination, liberalizes trade and reduces or removes non-trade barriers through its systems and procedures. .