New MSG Trade Agreement expected
November 11, 2015 11:15 pm
A new trade agreement for members of the Melanesian Spearhead Group is expected to be adopted a week from now.
Negotiations for a new and stronger trade agreement known as MSGTA3 are entering its final stretch this week in Noumea, New Caledonia.
Delegates from Fiji, Papua New Guinea, Solomon Islands and Vanuatu will be working this week to confirm the legal text of the new and more comprehensive agreement.
It will include new chapters on services, investment and labor mobility.
The current MSG Trade Agreement is the only fully operational trade agreement in the Pacific that has achieved free trade status for trade in goods.
A statement from the MSG Secretariat says MSG Leaders have set a solid time frame and directed their officials that a draft legal text of the trade agreement must be completed by the end of November, 2015.