Govt to set up trade commission

National, Normal

The National,Friday20January 2012

GOVERNMENT will set up a trade commission and realign the departments of Foreign Affairs with Trade, Commerce and Industry to support the trade function.
“Trade is of increasing importance in a globalise market place. PNG’s natural resources are significant and the basis of a development mechanism and international significance needs to be better reflected in Government structure,” Prime Minister Peter O’Neill said.
He said in the absence of political leadership, centralised coordination and sufficient resourcing, trade as a function for development had been neglected and had resulted in very little market development and weak and uncoordinated negotiations.
“The overall objective is to achieve and maintain sustainable growth of international trade, wealth creation and sustainable economic growth, which will contribute towards achieving the goals of Vision 2050,” O’Neill said.
“The proposed reform programmes will build on the foundations and lessons learnt and place emphasis on efficient and accountable delivery of reforms and management of trade and commerce related issues.”
O’Neill said a clear mandate for efficient and accountable management for trade and commerce would ensure better management and value for resources and would maximise the benefits from increased participation.
The reforms will extend support to coordinating agencies involved in international trade and focus on trade facilitation which will strengthen the private sector’s capacity to participate in trade and commerce.