How might the island trade agreement (PICTA) help the pacific islands trade with major markets all over the world

1 answer:

4 0

The PICTA came into force as of 2003 when 6 member countries of the Forum of the Pacific Helases signed and ratified the pact in their different governments. The main objective of PICTA is free trade among the 14 nations that make up the Forum.

In 2006, the PACIFIC AGREEMENT ON THE RELEVANCE OF ECONOMIC RELATIONSHIPS comes into effect, this agreement allows to celebrate free trade agreements between the member countries and an external state, with the following reservation: only Australia and New Zealand will be able to deal directly with external states. The rest of the member countries can only sign a treaty, after consulting Australia and New Zealand. The agreement in general allows all the products produced in the member countries to have the same value and to be sold relatively easily abroad.

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