Pacific included in agreement
May 16, 2014 9:31 pm
The Asia Pacific Trade Agreement is the oldest preferential regional trade agreement among developing countries in the region.
A seminar in Nadi has involved Fiji and neighbouring island countries to show how the agreement can benefit the Pacific.
DIRECTOR United Nations Economic and Social Commission for Asia and the Pacific, Ravi Ratanayke says they want to promote economic development using the agreement to link us with China and India – two of the fastest growing markets in the world.
Ravi Ratanayke DIRECTOR UNESCAP said: “The pacific has a small market compared to when you put all the countries together so it’s absolutely necessary for pacific island countries to be connected with the rest of the world especially dynamic Asia and this is what we’re offering you. We’re offering you an Asia pacific trade agreement which is very well established.
Now that the Pacific has been included in the agreement, there are limitless opportunities for trade.
Current members of APTA include Bangladesh, China, India, Republic of South Korea and Sri Lanka.