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O’Neill eyes new trade agreements post-Brexit

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PRIME Minister Peter O’Neill says Papua New Guinea will be ready to enter into new bilateral trade agreements with the United Kingdom after Brexit.
He told Lord Ahmad, the Minister for the Commonwealth, that PNG looked forward to entering into new arrangements with UK.
“UK’s exit from the European Union (EU), offers PNG the potential to enter into negotiations with UK to develop bilateral trade and investment relations between the two countries, including further UK investment in areas of agriculture, mineral and hydrocarbon exploration and development, tourism and downstream processing, and capacity building,” O’Neill said.
He said after the UK’s withdrawal from the union, “our interest on the impact the current trade and development arrangements may have on PNG, as most arrangements were established through Economic Partnership Agreement  (EPA) arrangements through the European Union”.
“PNG looks forward to consulting with the UK on the proposed agreement to be established, replicating the EPA with the EU,” O’Neill said.
He said the UK would remain an important strategic and development partner for PNG after Brexit.

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