Foreign investment and export markets can act as drivers of economic growth. Global economic integration, particularly access to capital investment flows, and formal integration into the global economy is critical to economic and social development outcomes. But this integration can be difficult for Pacific Island countries, where small land and population size, and remoteness of nations, can inhibit investment and raise shipping and infrastructure maintenance costs. Limitations of size and scale also mean that Pacific Island countries generally have narrowly based economies which are not easily diversified.
The Pacific Agreement on Closer Economic Relations (PACER) Plus is a landmark trade, investment, and development agreement designed to meet these challenges by working to lower barriers to trade, provide greater certainty for businesses, raise living standards, create jobs, and increase exports across the Pacific. The PACER Plus Implementation Unit has been established to implement the Treaty and related arrangements by managing the day-to-day development and implementation of the Development and Economic Cooperation Work Programme and expenditure of associated resources. In 2021, DT Global was contracted by DFAT as the Contracted Service Provider, supporting the establishment of the PACER Plus Implementation Unit and ensuring efficient and effective operation in all its functions. Starting in July 2022, DT Global was contracted directly by the PACER Plus Implementation Unit to support administrative systems, procedures, and policies to support the Work Programme's design, implementation, and monitoring.
