Country’s export to EU surges

National

By SHIRLEY MAULUDU
THE country’s export to the European Union market increased considerably in the past five years – from K1.7 billion to around K2.5 billion, an official says.
This was revealed by the head of delegation and EU Ambassador to PNG Ioannis Giogkarakis-Argyroplous during the launching of PNG’s first Trade Policy (2017-2032) on Wednesday in Port Moresby.
“How Papua New Guinea exports increase so much and so rapidly is because the country beat its production capacity by attracting investment,” he said.
“The future is bright for Papua New Guinea in the tuna industry.
“Five major onshore tuna processing factories have been established and two more have been added.
“These investments tend to create jobs directly and indirectly, mainly for women.
“The economic partnership agreement can also have a positive impact on the fisheries sector, whereas illegal fishing must be reported and regulated not only for Papua New Guinea but the entire region.”
Argyroplous said many countries replied on trade to develop and same would apply for PNG.
“It does offer great opportunities particularly when it comes to export of products from the renewable sector such as agriculture, fisheries and forestry,” he said. He said they were products which PNG could produce in abundance, in high quality and in a sustainable way.
“In this reality, the European Union trade policy aims to show prosperity and solidarity for Europe and around the globe for free and fair trade on a level-playing field,” he said.

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