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Wednesday, 05 January 2011

The EU helps to strengthen economic integration through trade in the Pacific Region

The European Commission has approved aid assistance totalling €30 million in favour of Pacific-ACP (PACP) countries in order to strengthen their benefits from the global economy by enhancing their trade capacity. This programme is financed by the 10th European Development Fund. It will help increase Pacific Countries' trade capacity through improved technical capabilities facilitating trade negotiations, greater integration of trade policy into national development frameworks, better customs management and enhanced productive export capacity in key economic sectors such as agriculture, forestry and tourism. Four regional agencies, namely the Pacific Islands Forum Secretariat (PIFS), the Secretariat of the Pacific Community (SPC), the Oceania Customs Organisation (OCO) and the South Pacific Travel Organisation (SPTO) will implement the different components of the programme.The EU has earmarked € 95 million in favour of the Pacific region under the 10th EDF Regional Indicative Programme (RIP) over the period 2008-2013. It is broken down as follows: Regional economic integration - €45 million (including the programme adopted today), Sustainable Management of Natural Resources and the Environment - €40 million, Non state actors, technical cooperation, etc. - €10 million.

Source: European Union