PNG soon to establish trade policy, says Maru

Business

THE country will soon have a trade policy to guide all its trade negotiations, says Trade, Commerce and Industry Minister Richard Maru.
Maru said the policy would make sure that every trade agreement captured the “national interest”.
“We will now have a new trade policy. The number one principle is national interest,” Maru said.
He will submit it to Cabinet next week and table it in Parliament if approved.
“I want to deliver that before the elections. This policy will change the way we do business with the rest of the world and no one will take us for a ride anymore,” he said.
“The trade functions have been shifted between Trade Commerce and Industry and the Department of Foreign Affairs and Trade over the years and we never got around to having a policy in place.”
Bridgette Kamish, the Department of Trade, Commerce and Industry Apec and trade facilitation assistant secretary, in a recent statement said the PNG was a member of the World Trade Organisation.
It is also party to a number of international trade agreements with trading partners including the European Union, Melanesian Spearhead Group, Australia (through the PNG-Australia Trade and Commercial Relations Agreement known as PATCRA) and Asia-Pacific Economic Cooperation.
“However, for PNG to maximise the benefits coming from these agreements, it is crucial to first understand what these trade arrangements are about,” she said.

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