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Wednesday, 08 June 2011

EU helps Pacific countries develop global role

The European Union (EU) and the Secretariat of the Pacific Community (SPC) have inked a Contribution Agreement for a project aiming to boost Pacific African, Caribbean and Pacific Group of States (ACP) countries’ ability to benefit from global trade and regional economic integration. The project, Increasing Agricultural Commodity Trade (IACT), is funded by the 10th European Development Fund (EDF) and falls under the EUR 30 million EU programme, Strengthening Economic Integration Through Trade (SPEITT). SPC will be the implementing agency for IACT. IACT will start mid-year. It is a four-year project that will be implemented by SPC through its Land Resources and Fisheries, Aquaculture and Marine Ecosystems Divisions. Ritva Sallmén, Chargée d'Affaires of the Delegation of the EU for the Pacific, noted that Pacific ACP countries are hindered by challenges that limit their ability to participate and profit from the global economic market despite the potential of, for example, their aquaculture sectors. “The IACT project will work with the private sector and government agencies to address these and other constraints to trade, thereby contributing to the goal of greater economic integration in the Pacific region,” she stated.

Source: SPC