Tuesday, 15 December 2009
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PNG LEAD MSG TO BACK PACER PLUS
THE Government continues to see regional economic integration as a means to expand the regional market and overcome the problems of scale while using it as a stepping stone to globalisation.
Minister for Trade and Industry Gabriel Kapris said this while addressing a workshop on Pacific agreement on closer economic relations (PACER)-Plus Trade agreement last week in Port Moresby.
He challenged participants to find out how a free trade agreement could benefit PNG and other Pacific Island Countries because there was no trade among Pacific Island countries except for the Melanesian Spearhead Group member states and there was no regional integration with transport in the region non-existent and very expensive where it was available.
Mr Kapris said there was a need for high volumes of trade that were both cheap and easy to transport in order to achieve regional integration between PNG and neighbouring Pacific island states.
He said Pacific island states had the capacity to build a vibrant private sector while also addressing all trade facilitation issues that met the high standards imposed by their trading partners.
Mr Kapris told participants that PNG had agreed to be part of the Pacific island states that would negotiate a free trade agreement with Australia and New Zealand under Pacer-Plus.
He said Australia and New Zealand remained PNGs largest trading partners and initiating a free trade agreement would have significant implications on the economy and the private sector.
Mr Kapris said that although the impact of this trade on government revenue might be less, tariff lines were low or zero at present and there needed to be more done to understand the implications it would have on other sectors in PNGs economy. He said central government agencies like the departments of Foreign Affairs, Trade and Immigration need to hold more consultations and include all stakeholders in negotiations on free trade.
PNG Post Courier per Jonathan Farapo 12-01-09
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