Papua New Guinea
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Trade Policy Review: Papua New Guinea 2019
“Trade Policy Reviews” analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat, a report by the government, and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - “key trade facts” - provides a visual overview of the WTO member’s major exports/imports, main export destinations, origins for its imports and other key data. This edition looks into the trade practices of Papua New Guinea.
Trade Policy Review: Papua New Guinea 2010
“Trade Policy Reviews” analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat, a report by the government, and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - “key trade facts” - provides a visual overview of the WTO member’s major exports/imports, main export destinations, origins for its imports and other key data. This edition looks into the trade practices of Papua New Guinea.
Introduction
The Trade Policy Review Mechanism (TPRM) was first established on a trial basis by the GATT contracting parties in April 1989. The Mechanism became a permanent feature of the World Trade Organization under the Marrakesh Agreement which established the WTO in January 1995.
Report by Papua New Guinea
After a long period of stagnation experienced during the 1990’s, Papua New Guinea showed positive economic growth over the last decade with a GDP growth average of around 5-6% and reaching 7.2% in 2008. This strong growth was attributed mainly to the commodity price boom enhanced by structural reforms and supported by the Government’s prudent macroeconomic and fiscal policies.
Report by the WTO Secretariat
This is the third Trade Policy Review of Papua New Guinea (PNG). Its macroeconomic performance has been broadly satisfactory, with the economy growing at an annual average rate of 5.2% during 2010-18. Real GDP growth peaked at 15.4% in 2014 but decelerated to an estimated zero in 2018. The recent slowdown was attributed to low commodity prices, a major drought in 2017 and a big earthquake in February 2018 which also weakened PNG’s external position and created fiscal challenges.
Concluding Remarks by the Chairperson of the Trade Policy Review Body, H.E. Mr. Manuel A.J. Teehankee of the Philippines at the Trade Policy Review of Papua New Guinea, 8 and 10 May 2019
This third Trade Policy Review of Papua New Guinea has offered us a good opportunity to deepen our understanding of recent developments in, and challenges to, its trade, economic, and investment policies. Our discussion has benefited from the active participation of the PNG delegation, led by Ambassador Joshua Kalinoe, as well as from the contribution of our discussant, Ambassador Martins Kreitus, Permanent Representative of Latvia to the WTO. I would also like to thank the 21 delegations that took the floor for their interventions.
Report by the WTO Secretariat
Papua New Guinea’s resource-rich economy remains heavily reliant on subsistence agriculture. Its average GDP per capita was just over US$1,000 in 2007. PNG is heavily trade dependent (both on primary exports and manufactured imports, including inputs), and vulnerable to world commodity price movements. Ranking 148th on the UNDP’s Human Development Index (a lowranked medium human development country), PNG has not met the Millennium Development Goals.
Preface
The Trade Policy Review Mechanism (TPRM) was first established on a trial basis by the GATT CONTRACTING PARTIES in April 1989. The Mechanism became a permanent feature of the World Trade Organization under the Marrakesh Agreement which established the WTO in January 1995.
Report by Papua New Guinea
Papua New Guinea (PNG) has been a member of the WTO since 1996 and this is the country’s third Trade Policy Review (TPR), the second having been completed in 2010–11. The country is a strong supporter of the rules-based international trading system, which is of particular value to small economies that lack the administrative capacity to negotiate on trade-related matters simultaneously with their many trading partners. PNG does not yet have permanent representation in Geneva, and is represented in WTO matters by the Geneva office of the Pacific Islands Forum Secretariat (PIFS), and by its Ambassador in Brussels.
Concluding Remarks by the Chairperson of The Trade Policy Review Body, H.E. Mr. Bozkurt Aran (Turkey) at The Trade Policy Review of Papua New Guinea 16 & amp; 18 November 2010
This second Trade Policy Review of Papua New Guinea has helped us improve our understanding of PNG’s recent achievements, particularly as regards its trade and trade-related policies, and the challenges faced. Our discussion has clearly benefited from the active participation of the PNG delegation, led by Ambassador Peter Maginde, as well as from the contribution of our discussant, Mr. Atsuyuki OIKE, Minister and Deputy Permanent Representative of Japan, and Members’ interventions. PNG’s prompt response to the questions was very much appreciated.