21 Aug 2007

Niue completes tariff changes - now ready to trade under PICTA

7:51 pm on 21 August 2007

Niue has announced that it is now ready to trade under the Pacific Islands Countries Trade Agreement or PICTA.

Niue's Minister for Investment, Trade and Shipping, Bill Vakaafi Motufoou, says PICTA provides opportunities for Niue to trade under preferential terms with the Forum Island Countries.

He says his government has been working with the private sector to try and develop exporting and trade capacity.

Niue has confirmed that customs tariff regulations have been modified to allow for the reduction and elimination of tariffs on imports from the countries that are parties to PICTA.

PICTA came into force just over four years ago with the aim of liberalising trade among Pacific countries by gradually reducing the import duty on goods produced by members.

This announcement makes Niue the fourth country to be trading under PICTA, along with the Cook Islands, Fiji and Samoa.