Press Release

APEC policy discussions deepens PNG's regional economic integrations

16/11/2018

The Prime Minister of Papua New Guinea Peter O’Neil remains confident about the hosting of the Asia Pacific Economic Cooperation (APEC) meetings in terms of business and exposure.

The Prime Minister of Papua New Guinea Peter O’Neil remains confident about the hosting of the Asia Pacific Economic Cooperation (APEC) meetings in terms of business and exposure.

The Prime Minister said APEC was significant for Papua New Guinea and the exposure that the country will get from the biggest industries in the world would attract interest in terms of participating in the success of the country’s economic growth.

“Papua New Guinea has now become a part of the international financial architecture. This in itself is a real confidence for our country and our people and especially for our investors who are investing in our country, including the Wall Street Journal recently, noted a very positive economic management of our country and also of the opportunities that are ahead of Papua New Guinea.” O’Neil said.

“Today we have seen real confidence returning to many sectors of our economy, more particularly to our business community.

“We have seen strong opportunities, particularly in tourism, agriculture, fisheries and the resource sector.

“In fact this morning we signed the second part of the second LNG project in our country with Total, Exxon Mobil and Oil Search. It’s a very strong boost for our economy.” O’Neil reiterated.

The PM said that through the APEC policy discussion and work on the regulatory reforms, they deepen PNG’s regional economic integrations with increasing trade and business in the region.

The Prime minister has also acknowledged the support from the APEC community for making sure that the world event turns out successful.

He also stated reasons for the importance of the APEC event in which the theme for the CEO summit and for APEC Papua New Guinea is particularly important and relevant for the people.

“Creating inclusive opportunities and embracing the digital future is essential for any country and of course our partners in the APEC community.

“There are a number of concepts that we need to discuss. That is how could we build more inclusive societies where everyone can benefit from the economic growth and development and how do we reduce inequality and unfair practices in our region,” O’Neil said.