Hungary will sign a trade and development deal between the European Union and African, Caribbean and Pacific states after it was promised amendments it sought, the Central European country's foreign minister Peter Szijjarto said on Wednesday.

'It is hard to predict how full Brexit would play out, because this scale of multiple simultaneous renegotiations of global trade agreements is unprecedented – and no country has ever left the EU. It certainly can’t be assumed that Britain is bound to get quick and good deals because it is a large economy.'

The evolving geopolitics in the South Pacific were on full display at the 50th PIF.

The Pacific Islands Forum (PIF) is an inter-governmental organization that aims to enhance cooperation between countries and territories of the Pacific Ocean. It was founded in 1971 as the South Pacific Forum (SPF).

The United Kingdom vote in June 2016 to leave the European Union will have major implications for developing economies, according to a report from the Overseas Development Institute (ODI). Least developed countries (LDCs) will be particularly affected, mostly via reduced exports and lower aid values.

The prospect of the UK formulating its own trade policy following Brexit is likely to have implications for the existing Economic Partnership Agreements (EPAs) between the European Union (EU) and some African, Caribbean and Pacific (ACP) countries, and the UK’s future trading arrangements with the ACP.