The long-awaited Pacer-Plus Pacific trade agreement is expected to be signed in early June, after the 14 Pacific countries concluded their talks in Brisbane last week. But Papua New Guinea and Fiji have said they will not participate. Business Advantage PNG asked World Trade Organisation negotiator, Edwini Kessie, what PNG is missing out on.
Local Papua New Guinea businesses are expected to provide core services to ensure the success of the 2018 APEC summit in Port Moresby, says APEC Papua New Guinea Co-Ordination Authority CEO, Christopher Hawkins.
Bank South Pacific purchased the National Bank of the Solomon Islands 10 years ago this year. David Anderson, BSP’s country manager in the Solomon Islands, shares a 2017 overview of the country’s economy with Business Advantage PNG.
Zarak Khan is Fiji’s Consul General and Trade Commissioner at the Fiji Consulate and Trade Commission in Sydney. He tells Business Advantage PNG that Fiji is looking to diversify its industry base.
Papua New Guinea’s fishing industry faces fierce competition from Thailand and the Philippines, says Pete Celso, Managing Director of R D Tuna Canneries in Lae. He believes a lack of control over imports is harming the local industry.
The APEC meeting in 2018 in Port Moresby will be a major boost for the country, David Toua, the President of the Business Council of PNG (BCPNG), tells Business Advantage PNG. Analysts say in the past benefits have been shown to outweigh the costs.
After 20 years building a successful transport company, Mapai Transport founder Jacob Luke is exploring ways to correct PNG’s trade imbalance with NZ, and providing training opportunities for young Papua New Guineans.
Climate change is the ‘single greatest threat to the livelihoods, security and wellbeing of the peoples of the Pacific’, according to the Pacific Islands Forum Secretariat (PIFS). But the region is showing leadership and there are opportunities for Papua New Guinea to gain access to climate finance.
E-commerce, empowering women in business and anti-dumping measures were highlights of last month’s APEC Business Advisory Council (ABAC) meeting in Port Moresby. Business Advantage PNG asked Douveri Henao, Lead Staffer for ABAC, for his response to the meeting.
Papua New Guinea’s first LNG project has transformed the country’s exporting landscape, with Japan overtaking Australia as its number one trading partner. China will also become a major source of funds, taking over from Australia and global lending agencies. But don’t expect the broader bilateral relationships to change quickly.