PNG deepens trading arrangements with EU, ACP

Papua New Guinea has taken steps to strengthen and deepen its Economic Partnership Agreement (EPA) with the European Union and other African, Caribbean and Pacific states that have similar trading arrangements.

The Minister for Foreign Affairs and Trade, Rimbink Pato, who attended the ACP-EU Joint Ministerial Trade Meeting in Brussels, Belgium, on 26 October, signed the ACP Administrative Cooperation Agreement (ACA).

This makes it possible for PNG to enter into intra-ACP trade relations with the cumulation of the rules of origin.

Under this WTO multilateral trading rule, countries within the same Trade Agreement region could cumulate rules of origin.

Minister Pato said the ACA would give PNG the benefit of using raw or semi-produced goods from other ACP countries that have Economic Partnership Agreement (EPA) with EU and trade them as finished products from PNG.

Similarly, other ACP states could buy raw or semi-produced materials from PNG and further add value and trade them as final products from their respective countries.

(Minister for Foreign Affairs and Trade, Hon Rimbink Pato, centre, signs the Administrative Cooperation Agreement witnessed by the Secretary General for ACP, Dr. Patrick Gomes, right, and Papua New Guinea’s Ambassador to the European Union and the ACP, Joshua R. Kalinoe)

Press release