CHINA FUNDS FOR FORUM FREE TRADE NEGOTIATIONS

admin's picture

PACIFIC ISLANDS FORUM SECRETARIAT Suva, Fiji Islands

 

PRESS STATEMENT June 1, 2001

The People's Republic of China has provided FJ $30,000 (US$ 13,230) towards the funding of the final round of negotiation of a Forum Island Countries free trade area agreement.

The final negotiating session is scheduled for 21-22 June 2001 in Apia, Samoa. Forum Trade Ministers will then make recommendations on the FTA, which will go before Forum Leaders who meet in Nauru in August.

At the 1999 Forum Meeting in Palau, Forum Leaders decided to establish a Free Trade Area among the Forum members.

Forum Trade Officials were tasked to negotiate the details of the draft Agreement, including negative lists, and measures to provide for the application of arrangements to Australia and New Zealand.

Over the past 18 months Forum Trade Officials have been negotiating a Forum Islands Countries - Free Trade Area whereby FICs integrate first before extending the FTA arrangements to developed partners.

An Umbrella Agreement to cover trade and economic relations between the Forum Island Countries and Australia and New Zealand in the Forum Free Trade Area at a future date is also being negotiated.

The legal texts for the FIC-FTA and the Umbrella Agreement will be considered by Forum Trade Ministers later this month.

For additional information, contact: Ulafala Aiavao at UlafalaA@forumsec.org.fj 

Rate this article: 
Average: 2 (2 votes)

Add new comment