Organisation praises PNG for economic performance
THE World Trade Organisation (WTO) had commended Papua New Guinea for its positive economic performance from 2010 to 2018.
It attributed this to prudent macroeconomic management and increased revenues from exports, despite structural and natural disaster-related challenges.
Chairman of the trade review panel and Philippines ambassador to the WTO Manuel Teehankee said despite its “considerable exposure to natural disasters and climate change”, PNG managed to achieve “reasonably strong rates of economic growth for most of the review period and maintain a positive economic outlook”.
Head of the PNG trade policy review delegation Joshua Kalinoe thanked Teehanke and WTO for the constructive and supportive comments.
He assured them of PNG’s commitment to comply with the rules-based multilateral trading system.
“We have taken special note of the many supportive and constructive comments by members to improve on our compliance requirements as PNG continues to engage in an export-driven development agenda, including on notification,” Kalinoe said.
One thought on “Organisation praises PNG for economic performance”
You have ignored the following worrying parts of the report in your effort to support the PM
Sec2 It is estimated that some 3 million people, about 40% of the population, live below the basic needs poverty line
Sec 21. In recent years, PNG’s forests have been degraded and depleted due to excessive logging
Sec 22 LNG output has mostly been used to repay project-related debt and has generated little employment or additional government revenues
Sec 25 PNG remains among the most underbanked countries
Sec 26 Internet at reasonable speeds remains difficult, and there are limitations on the international data gateway capacity, which also greatly reduces service quality
Sec 27 PNG’s transport networks lag behind most other countries in Asia and the Pacific, mainly because of inadequate investment over the past 30 years.
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