US official flying in to talk trade

Business

SENIOR adviser to United States President Donalnd Trump and Overseas Private Investment Corporation (Opic) chief executive Eric Jones is expected in Port Moresby today to talk with officials on ways to increase US trade with Papua New Guinea.
Jones, who was previously the deputy chief of staff at the US Small Business Administration (SBA), will also speak with regional representatives of US businesses who were invited to PNG in August by the US Embassy.
He will talk about ways Opic can help them follow up on opportunities they developed during their recent visit.
United States Embassy economic officer Bradley Coley told The National earlier this year that PNG imported goods and services worth US$105 million (K342 mil) from USA last year.
“Based on the most recent trade statistics from the United States Census Bureau, in 2017, PNG exported a total of US$120.8 million of goods and services to the United States,” he said. “PNG imported US$105.9 million (K347mil) in goods and services from the United States.
“PNG’s imports from the United States have been relatively steady in dollar terms while its exports to the United States have fluctuated over the years.
“The United States government and our embassy in Port Moresby are committed to growing the US business presence in PNG, Solomon Islands, and Vanuatu.
“We have recently concluded a partnership post-agreement with our foreign commercial service office in Sydney.
“The agreement allows us to offer the full suite of US department of commerce services to American businesses interested in the three countries that we cover.”
All Opic projects adhere to high environmental and social standards and respect human rights, including worker’s rights.
By mandating high standards, Opic aims to raise the industry and regional standards in countries where it funds projects.

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