Apec bringing the world to PNG

A STATEMENT that is becoming almost very familiar is that Papua New Guineans should appreciate and embrace the 2018 Asia-Pacific Economic Cooperation (Apec) forum.
Before we go on, let us make sure we know what Apec is?
The Apec website says it is a regional economic forum established in 1989 to leverage the growing interdependence of the Asia-Pacific region.
The 21 Apec member economies are Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, The Philippine, Russia, Singapore, Taiwan, Thailand, United States, and Vietnam.
The members aim to create greater prosperity for the people of the region by promoting balanced, inclusive, sustainable, innovative and secure growth and by accelerating regional economic integration.
Apec ensures that goods, services, investment and people move easily across borders.
Members facilitate this trade through faster customs procedures at borders, more favourable business climates behind the border, and aligning regulations and standards across the region.
Already, several high-level meetings have been held in Port Moresby which saw senior officials from other member economies visiting the country and participating actively in the meetings held in various venues in the county’s capital as well as other designated centres.
The outcome so far has been impressive with positive feedbacks from the other economies for a successful Apec year in PNG.
Worth mentioning is the development currently taking place in Port Moresby. Many will disagree that development is concentrated in the city and they are entitled to their opinions.
David Toua, chair of the Apec Business Advisory Council (ABAC), had said there were two great opportunities to be realised from hosting APEC – inviting people to our country, and showcasing our country’s enormous potential as an investment destination. And to bring our people closer to the global market beyond our borders.
The member economies are united to build a dynamic and harmonious Asia-Pacific community by championing free and open trade and investment, promoting and accelerating regional economic integration, encouraging economic and technical cooperation, enhancing human security and facilitating a favourable and sustainable business environment.
Apec meetings is where discussions come in through the interaction of officials.
We learn from other member countries who bring in their experience and ideas into the PNG cultural context.
The second senior officials’ meeting and related meetings this week discussed how people can be engaged in the production of goods and services for economic growth.
Elai Soutai, a PNG researcher and analyst for the Abt Associates PNG, presented a paper on the impact of Apec on rural PNG and PNG as a whole.
We agree with him that the short-term benefits experienced today was the least of his concerns as it is the long-term ones that he would the meeting to pay close attention to.
Long-term benefits would take years to implement and implied that the policy makers had a tremendous task of bringing the rural communities on board the development process.
That is the challenge.
Going forward, on a positive note, opportunities will be given to local enterprises to show their wares to the business, social and political leaders of the member economies whose influence on others is out of proportion to their numbers. They will benefit from the meetings, although they did not ask for it.
Contacts will be made, which may lead to contracts. There will also be transfer of knowledge and techniques. The values to these we cannot give.