The Prime Minister Peter O’Neill has announced that Heads of Agreements will be signed for the Wafi-Golpu mine and Papua LNG project, to coincide with the APEC Leaders Week. In a pep to talk to business last week, he emphasised the benefits of hosting APEC 2018.
Papua New Guinea’s Treasurer Charles Abel says Papua New Guinea needs to take a staged approach to integration with the global economy in order to avoid being taken advantage of. Speaking at an APEC discussion forum at the University of PNG, he said recent experience suggests the nation’s foreign exchange markets may be too open.
In a little over three weeks, Papua New Guinea will host the annual APEC Economic Leaders Meeting, when 21 world leaders and 10,000 delegates including 2,000 media organisations arrive in Port Moresby. The Director-General of the APEC 2018 Coordinating Authority, Sir Charles Lepani, tells Business Advantage PNG he is confident of a lasting legacy.
Preparations for the APEC Leaders Week are going well, according to Alan Bollard, Executive Director of the APEC Secretariat. He tells Business Advantage PNG that the policy work is paying off and the logistical preparations are sound, but there are some tensions over trade.
The PNG APEC Study Centre is to be officially opened next week at the National Research Institute. According to Dr Thomas Webster, Professorial Research Fellow at the NRI, the aim of the centre is to improve the understanding and enabling of innovation in Papua New Guinea.
In the second half of his exclusive conversation with Business Advantage PNG’s Andrew Wilkins, the Prime Minister Peter O’Neill says the policies developed at the APEC Leaders meeting will have a lasting impact on the country. He says APEC marks a unique opportunity to market PNG as an investment destination.
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