Free trade agreements with Pacific Islands countries

(a) Declaration of policy Congress declares that free trade agreements should be negotiated, where feasible, with interested countries in the Pacific Islands, in order to serve as the catalyst for increasing trade between the United States and the Pacific Islands and increasing private sector investment in the Pacific Islands. (b) Plan requirement (1) In general The President, taking into account the willingness of the Governments of Pacific Islands countries to engage in negotiations to enter into free trade agreements, shall develop a plan for the purpose of negotiating and entering into one or more trade agreements with interested beneficiary Pacific Islands countries. (2) Elements of plan The plan shall include the following: (A) The specific objectives of the United States with respect to negotiations described in paragraph (1) and a suggested timetable for achieving those objectives. (B) The benefits to both the United States and the relevant Pacific Islands countries with respect to the applicable free trade agreement or agreements. (C) A mutually agreed-upon timetable for the negotiations. (D) The implications for and the role of regional and subregional organizations in the Pacific Islands with respect to such free trade agreement or agreements. (E) Subject matter anticipated to be covered by the negotiations and United States laws, programs, and policies, as well as the laws of participating eligible Pacific Islands countries and existing bilateral and multilateral and economic cooperation and trade agreements, that may be affected by the agreement or agreements. (F) Procedures to ensure the following: (i) Adequate consultation with the Congress and the private sector during the negotiations. (ii) Consultation with the Congress regarding all matters relating to implementation of the agreement or agreements. (iii) Approval by the Congress of the agreement or agreements. (iv) Adequate consultations with the relevant Pacific Islands governments and Pacific Islands regional and subregional intergovernmental organizations during the negotiation of the agreement or agreements. (c) Reporting requirement Not later than 12 months after the date of the enactment of this Act, the President shall prepare and transmit to the Congress a report containing the plan developed pursuant to subsection (b).