PNG’s Draft Trade Policy Focuses On Export-Driven Development

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Pacific Islands Development Program, East-West Center With Support From Center for Pacific Islands Studies, University of Hawai‘i

PNG’s Draft Trade Policy Focuses On Export-Driven Development First national policy to set regulatory framework

PORT MORESBY, Papua New Guinea (PNG Post-Courier, Feb. 2, 2016) – Papua New Guinea has not had the benefit of a trade policy to guide its trade relations with the outside world since independence.

And because of the country hosting the 2018 Asia-Pacific Economic Cooperation Leaders Summit, a National Trade Policy document is now in place to create a globally competitive export-driven economy.

Commerce, Trade and Industry acting Deputy Secretary Richard Yakam said this during the committee on APEC policy issues workshop held in Port Moresby yesterday.

"Papua New Guinea’s Trade Policy defines and sets the policy and regulatory framework for PNG’s international trade with the primary goal of advancing, consolidating and maximising trading interests within and outside the market," Mr Yakam said.

The thrust of the current draft National Trade Policy will address this and create an economy based on and supported by an expanding domestic market that is efficient and competitive.

"It sets out the policy and regulatory framework for the conduct of trade (at all levels) and provides the basis upon which PNG will pursue and carry out its trading activities, particularly through securing PNG’s national interest, establishing a clear commitment to trade based on sound policy and setting forth a clear direction for trade."

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