Targeted Support on Trade and Investment -- Papua New Guinea, Samoa, Solomon Islands, Tonga, Fiji, Timor Leste - European Union Business, Trade & Investment Conference, 2021
Posted on: September 01, 2021
The project is designed in collaboration with PNG-EU Business Council, PNG Investment Promotion Authority (IPA); PNG National Trade Office (NTO) and the Department of Commerce and Industry.
The project objectives are 4-fold:
1.Strengthening business, trade and investment ties between the EU and PNG+5 (plus Fiji, Samoa, Solomon Islands, Tonga and Timor-Leste) through:
- the Launch and operationalization of the PNG-EU Business Council,
- the preparation and the dissemination of a short readable version of the final report of the first EU-PNG Business, Trade and Investment Conference and an updated EPA brochure.
- Providing adequate information on key commercial and investment sectors in PNG+5 to European business operators in the Pacific region.
The project will provide:
- the drafting of a technical report on the investment climate—doing business in Papua New Guinea in general (including legal and technical requirements);
- a framework for a database regarding EU businesses operating, trading and investing in PNG (and the other 5 EPA countries);
- an update of the user-friendly summaries of development strategies for specifics sectors discussed at the EU-PNG Business, Trade and Investment Conference (agriculture, energy, forestry, infrastructure, ICT and services);
- the dissemination the development strategies among the relevant economic operators in PNG;
- the draft of a trade protocol for key products identified including coffee and cocoa and an additional product among: rubber saps, vanilla, fish and marine products, wood products, copra.
Furthermore, the project will:
- Capacitate the key beneficiaries on the key business, trade and investment focus of a B2B Conference.
A one and half-day in-house training will be conducted for the technical staff of the IPA and PNG National Trade Office on the promotion of trade and investment flows from the EU - Raise Businesses’ awareness and ownership of the benefits of the EPA between the EU and PNG/Fiji/Samoa/Solomon Islands (plus Tonga and Timor-Leste).
Under this component the project will prepare background briefs on trade and investment in products obtained through the sustainable management of natural capital, on the EU perspectives on trade and investment aspects of sustainable development and on trade and investment opportunities in environmental goods and services consistent with sustainable development and EPA principles.
The activities under this support project will start in the following weeks and will be implemented with combination of virtual and physical modalities during a period of 3 months. The main conference event will be held towards the end of October 2021.
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