Brexit not affecting trade: Official

TRADE with Great Britain will continue as usual despite the confusion over Brexit, Commerce and Industry Secretary Andrew Liliura says.
Liliura told businesses particularly industries trading with the UK that Article 50 of the Brexit deal had been extended to Oct 31, meaning the UK would not be leaving the EU before that date.
“Therefore, my department has now suspended all our plans to proceed with the exchange of notifications with the UK for the provisional application of the UK-Pacific States economic partnership agreement by April 12,” he said.
Liliura said the department had been monitoring the political development in the UK since the referendum by the British people on June 23, 2016 to leave the EU.
PNG and Fiji entered into a tripartite agreement with the UK to maintain market access arrangements.
The agreement allows the UK to provide duty-free quota-free access to goods from PNG and other Pacific states.
“In exchange, the Pacific states commit to more gradual tariff liberalisation,” he said.
“However, sensitive products are excluded from full liberalisation as they are in the EU-Pacific agreement framework.
“The agreement allows for both parties to take measures to protect their markets in particular circumstances.
“The agreement envisages development assistance from UK to ensure effective implementation and that the opportunities it offers can be fully realised by the Pacific states.
“It is a development-focused trade agreement that aims to promote increased trade and investment.”
In 2017, PNG export to the UK was valued at K582.28 million and import was K74.5 million.