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All is on set mode as Papua New Guinea prepares to host a range of European businesses and dignitaries at the inaugural PNG-EU business conference at the Stanley Hotel in Port Moresby on Thursday, June 20th.
The conference is being organized by the Delegation of the European Union to Papua New Guinea and the Investment Promotion Authority in partnership with the PNG Business Council. It is one of the key events which the EU has planned under its European Economic Diplomacy Action Plan, with a view to enhancing the benefits that PNG can derive from the current Economic Partnership Agreement (EPA) as well as to support the development of EU trade and investments in PNG.
Themed as “Strengthening trade an investment ties between the EU and PNG”, the conference is expected to attract key industry players from both government and private sector in PNG and the European Union. This aligns with the PNG Government’s trade development priorities such as increasing trade volume, easing the investment climate and promoting progressive and global competitiveness.
One of the targets that the conference aims to reinforce is the diversification strategy towards non-mineral sectors such as agriculture, forestry, fisheries, manufacturing and services. High on the agenda are the challenges and opportunities for doing business in PNG and how the Economic Partnership Agreement between PNG and EU can further harness existing trade and investment activities. The highlight of the conference will be the presentation of market analyses for specific economic sectors, identified as potential priorities for trade and investment in the PNG and EU markets.
EU Ambassador to PNG H.E. Ioannis Giogkarakis-Argyropoulos said: "I am truly excited that we are holding this first-ever EU-sponsored conference in Port Moresby this week because there is so much potential for European companies and investors to do business in PNG. But that is also true for PNG exporters to the EU Internal Market of some 500 million affluent consumers who are looking for high quality products that are sustainably grown or produced".
The Managing Director of the Investment Promotion Authority, Mr. Clarence Hoot, said: "PNG welcomes the interest of European companies and investors whose feedback and comments are helpful when addressing any trade and investment barriers they encountered. I am optimistic that with this event, we are jointly laying the groundwork for more of these conferences in the years to come".