New Zealand has become the first country to ratify a Pacific free trade deal.
David Parker Photo: RNZ / Richard Tindiller
Trade Minister David Parker said New Zealand yesterday ratified the PACER Plus agreement.
He said the other ten signatories showed clear momentum towards ratification at a recent meeting.
He said his government's goal was to bring the agreement into force by next year.
Yesterday, a report by the Pacific Network on Globalisation said Pacific Island signatories to PACER Plus will lose more than $US60 million each year under the deal.