UK Foreign Commonwealth and Development Office Trade Advisor Visits PNG for Trade Talks

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The Chief Trade Officer of the PNG National Trade Office, Mr. Richard Yakam, expressed his enthusiasm for collaborating with the UK Government to boost bilateral trade and investment.

During a meeting on Monday with UK Trade Adviser Peter Harrington, Mr. Yakam highlighted Papua New Guinea’s (PNG) potential in the UK market, especially in non-mineral sectors like agriculture, commodities processing, fisheries, and investments in Special Economic Zones (SEZs) currently under development.

Utilizing the Pacific UK Economic Partnership Agreement, PNG has the potential to increase its exports to the UK market as well as attracting investors from the UK particularly in the non-extractive sector.

Mr. Yakam and his senior management team met with Mr. Peter Harrington from the Foreign Commonwealth and Development Office to discuss business development, trade expansion, and the establishment of supply chains for selected agricultural products.

Peter Harrington’s week-long visit to Port Moresby from March 18-22 aims to connect with key government agencies, exporters, and export-ready businesses to explore potential export opportunities to the UK market.

Post-Brexit in 2020, Pacific countries, including PNG, transitioned from the Economic Partnership Agreement (EPA) with the EU-27 to the UK-Pacific States EPA to maintain trade relationships. This agreement, similar to the EU’s EPA, is crucial for sustaining trade deals with Pacific Island Countries.

Harrington’s visit marks FCDO’s first step in enhancing the UK-Pacific States EPA since its inception. He will engage in high-level consultations with government officials, chambers of commerce, business associations, and exporters to assess their experiences with the UK-PNG EPA, aiming to improve its effectiveness.

The Chief Trade Officer, Mr. Yakam emphasized the UK’s significance as a trading partner and highlighted ongoing efforts to facilitate trade discussions. He looks forward to strengthening bilateral cooperation to boost PNG’s exports and attract more investments.

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