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Tuesday, 26 February 2013

PNG to be losing in trade talks

Papua New Guinea has been coming out second best in trade negotiations because it has not been taken seriously, officials are reported to have said during local debates in parliament two weeks ago, calling for the development  an entity who can plan in advance for trade negotiations (Friday, 17 February).
“We have never been prepared at trade negotiations. Our efforts are at best ad hoc and erratic. There is not one government department tasked with that very important function in negotiating trade on behalf of PNG. […] As a result we have removed some legislations that protect our very own people, our consumers, and we develop laws and legislation that agree to concessions, tax holidays that benefit other economies”, Papua  New Guinea official said.
Papua New Guinea has signed interim Economic Partership Agreements (EPAs) with the EU in 2009 which allows it to access markets in the sugar and fisheries sector, but a comprehensive agreement for all other Pacific ACP countries is yet to be agreed on.