Australia and New Zealand, as well as 12 Pacific island countries, have successfully concluded negotiations in Brisbane, Australia, to implement the "Pacific Agreement on Closer Economic Relations", or what is called " PACER Plus" agreement, Australian Trade and Investment Minister Stephen Chippo said in a statement released Friday. He added, "This agreement is historic and will cover the areas of goods, services and investment, drive economic growth, raise living standards in our region, remove barriers to trade, including tariffs, increase commodity flows and investment in the region, as well as abundant growth, employment and living standards.