EU-PNG meet focuses on trade

MINISTER for Trade, Commerce and Industry Charles Abel has welcomed a European Union delegation to Papua New Guinea for the second trade committee meeting.
It will be held under the interim economic partnership agreement (IEAP) in Port Moresby today.
PNG valued its bilateral trade relations with the EU, which was conducted under the EPA arrangement between the EU and Africa- Caribbean Pacific countries, which aimed to promote trade between the two groupings through trade development, sustainable growth and poverty reduction.
Signed in 2009, the IEPA enables PNG to enjoy duty-free quota free market access for her goods into the EU market.
The arrangement also granted a special derogation to the standard rules of origin (RoO), referred to as “global sourcing” for processed fish covering canned and cooked loins.
Basically,  it allowed PNG or other Pacific island countries to source tuna from any vessel, regardless of their flag and where it was caught, for export to the European market, provided that it has been” substantially transformed” in PNG or other Pacific countries.
“The interim agreement provided a sound foundation for PNG to pursue her development aspirations,” Abel said.

 while recognising the different needs and constraints of the other Pacific island countries,” Abel said.