30 May 2011: The European Union (EU) and the Secretariat of the Pacific Community (SPC) signed a Contribution Agreement for a project titled “Increasing Agricultural Commodity Trade (IACT).” The project is part of a EUR30 million programme titled “Strengthening Economic Integration Through Trade” (SPEITT), which is designed to increase the ability of members of the African, Caribbean and Pacific Group of States (ACP) to benefit from global trade and regional economic integration.

IACT is a four-year project that will be implemented by SPC through its Land Resources Division and Division of Fisheries, Aquaculture and Marine Ecosystems, and will operate in the 15 Pacific members of ACP , starting in mid-2011. The goals of IACT are to: improve Pacific ACP countries’ economic integration in agriculture, fisheries and aquaculture, through strengthened national systems and institutional frameworks; develop trade capacity; increase private sector competitiveness; and increase international market access.

The IACT project, funded under the 10th European Development Fund, will run in parallel with and build on lessons learnt from the Facilitating Agricultural Commodity Trade (FACT) project, funded by the EU through the 9th European Development Fund and also implemented by SPC. [SPC News]