Maru praises European trade standards in PNG

THE trade standards of the European Union (EU) has greatly helped the country in increasing its exports while complying with international standards, National Planning and Monitoring Minister Richard Maru says.
He made the statement on Tuesday during the celebration of 40 years of partnership with Papua New Guinea.
“If it wasn’t for the access to the EU market, and I’m talking the duty free market access, we wouldn’t be able to attract investors into the country,” Maru said.
“We wouldn’t be even thinking of investing a billion kina in building the Pacific Marine Industrial Zone in Madang.
“It is anchored on the market access to the European Union. This project alone will deliver another 30,000 to 40,000 jobs.
“Our Government is hoping it will save over K2 billion in revenue that needs to be brought onshore to PNG that we are currently losing.
“About 70 per cent of our fish is shifted offshore to countries like Thailand that do not have tuna. All of these are because of the market access to the EU.”
Maru said agreements signed with the EU had benefitted the country.
“I am happy to inform everyone that last year, I had the privilege of presenting an independent study done by our Government to look at the cost and benefit analysis done by all the trade agreements we have between all our partners,” he said.
“The study confirmed and reaffirmed that EU trade agreements give us the greatest benefit than all agreements we have signed with all our trading partners.”