U.S. WELCOMES PNG’S ECONOMIC REFORMS - Novembe 19, 1999

admin's picture

U.S. WELCOMES PNG’S ECONOMIC REFORMS

PORT MORESBY, Papua New Guinea (November 18, 1999 – Radio Australia)---The United States has welcomed steps by Papua New Guinea to create what it describes as a "transparent and predictable trade regime," following years of economic setbacks.

Responding to a report by the World Trade Organization (WTO), America’s Ambassador to the World Trade Body, Rita Hayes, said Washington congratulated the PNG government for adopting an economic recovery package.

She called on the Port Moresby authorities to develop clear and transparent investment rules to make the South Pacific archipelago more attractive for foreign investors.

U.S. exports to PNG amounted to US$ 100 million last year, while American imports from Papua New Guinea totaled $ 200 million.

The Ambassador said Washington was pleased at steps made to simplify Papua New Guinea’s tariff structure, although she voiced concern that several non-tariff measures could limit agricultural imports.

For additional reports from Radio Australia, go to PACIFIC ISLANDS REPORT News/Information Links: Radio/TV News/Radio Australia.

Rate this article: 
No votes yet

Add new comment