Pacific Regional Economic Integration Programme – 9.ACP.RPA.06

Implementing Agency: PIFS
Financing Agreement Signed: December 2003
Budget: Euro Euro 11.2 million
Duration: 4 years

The Financing Agreement, 9.ACP.RPA.006 for the Pacific Regional Economic Integration Programme (PACREIP) amounting to € 9.2 million between the European Commission (EC) and the Pacific ACP States (PACPS) entered into force on 7 February 2004.

Addendum 1 to Financing Agreement signed on the 23rd of March 2007 approved an increase of € 2 million to the PACREIP project, increase the total contribution to € 11.2 million.

The overall objective of PACREIP is to contribute to the sustainable development of the Pacific ACP (PACP) economies as an economically integrated region. This should lead to improvements in GDP and economic growth of national economies. The PACREIP seeks to support regional economic integration of the PACPS in two important ways.

• First, consolidation of the PACPS as an integrated regional unit through the establishment of a free trade area covering the PACPS; and
• Second, engagement of the PACPS as a regional unit in the wider regional and global processes, including in negotiation and subsequent operation of trade with developed country partners such as the EU, and also in multilateral negotiations at the WTO.