Press Release

2018 APEC opens door for further discussion on free trade policy

17/11/2017

The Prime Minister of Papua New Guinea reassures the nation that APEC will be hosted and leaders of the 21 Economies of Asia Pacific Economic Cooperation (APEC) will come.

Lae Port

The Prime Minister of Papua New Guinea reassures the nation that APEC will be hosted and leaders of the 21 Economies of Asia Pacific Economic Cooperation (APEC) will come.

Honourable Peter O’Neill during a press conference said it is an honour that PNG has been recognised and in doing so been given the opportunity to host the 2018 APEC Forum.

“There is no turning back, this is a unique opportunity for PNG as we have been a member for over 20 years and this will be the first time for PNG to host the APEC”.

A concern which Prime Minister O’Neill voiced was that of free trading, which he said was discussed during the APEC Forum in Lima, Peru in November.

He added that the Asia Pacific region played a pivotal role in contributing 40 % to the global economy, adding that APEC is the premier forum in the Asia-Pacific for advancing trade, creating jobs, and sharing skills and technical knowledge around the region.

Mr. O’Neill told the media that the 21 economies are committed to taking a concrete step towards greater regional economic integration by endorsing a roadmap for the Free Trade Area of the Asia-Pacific to translate this vision into a reality. 

He emphasized that there were many countries globally facing economic challenges and our region was no exception having its fair share of issues.

PM O’Neill said the recent meet in Peru gives insight for Papua New Guinea, to take leadership of the regional policy agenda in just over one year from now when we host APEC in 2018. 

He said being the smallest APEC economy, and the only Pacific Island Nation in APEC, PNG is in a privileged position to contribute to development and trade in the Asia-Pacific, thus improving the SME sector in the country.