OCTA Concludes Funding Negotiations with Australia

20 March 2012

OCTA Concludes Funding Negotiations with Australia

The Office of the Chief Trade Adviser (OCTA) has entered into a two-year grant funding arrangement for AU$1 million (AU$500,000 per annum) with the Government of Australia on 19 March 2012.

The agreed funding arrangement fulfils the commitment made by the Government of Australia and New Zealand in June 2009 to provide funding of AU$500,000 and NZ$650,000 per annum respectively for a period of 3 years.

The OCTA was established in March 2010 and provides independent advice and technical support to Forum Island Countries (FICs) in the PACER Plus negotiations with Australia and New Zealand. It became an independent legal entity in March 2011 and is wholly controlled and owned by the FICs.

The funding agreement entered into with Australia preserves the independence of the OCTA and the integrity of its advice to the FICs. This is in line with all the directions given, and positions taken, by the FICs on funding arrangements entered into by the OCTA, and the governance structure of the OCTA as stated in the OCTA Constitution.

Dr Edwini Kessie, the incoming Chief Trade Adviser of the OCTA, thanked the Government of Australia for its contribution and commitment to assist the FICs to achieve substainable growth and development.

“I thank the Government of Australia for the funding resources provided. These funds will the enable OCTA to continue providing independent advice and technical support to our members in PACER Plus negotiations. With funding negotiations concluded, we can now look forward to making substantive progress in PACER Plus negotiations with a view to coming up with a truly developmental trade agreement that would promote economic growth and sustainable development of the FICs as aspired to by PACER Plus parties.”

ENDS

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