Sunday, April 24, 2011

PNG products tax free in EU markets

Source:
The National - Tuesday, March 22, 2011
Picture:

By ANCILLA WRAKUALEPAPUA New Guinea will now be able to export its products directly to the European markets free from import duties and import quota.This has become possible under the interim economic partnership agreement signed between the two countries.This was revealed in a media briefing by visiting European Union commissioner for trade Karel De Gucht jointly held with foreign affairs, trade and immigration minister Don Polye and minister for Fisheries Ben Semri and officials from both parties.Polye said the investment arrangement with European Union would also create investment attraction and marketing opportunities for other sectors such as tourism, agriculture and fisheries.“We thanked EU for giving us the preference in exporting canned tuna to European markets.“We are happy with them and thanked them for the access,” Polye said.He said De Gucht’s visit showed solidarity and confidence between PNG and EU.Canned tuna will be manufactured at the proposed Pacific Marine and Industrial Zone (PMIZ) in Vidar along the North coast road in Madang.De Gucht said he was happy to visit the country at the time of rapid evolution in gas and tuna industry.He stressed on investment protection, adding that it was the key factor in attracting outside investment.De Gucht began his visit yesterday as a part of his tour in the Asia Pacific region, with the first stop in Malaysia followed by Australia and New Zealand.He and Polye discussed the implementation of the IEPA whose provisions covered commitments and obligations pertaining to the goods trade between the two countries.Under the agreement, both EU and PNG now have preferential access to each other’s markets.Meanwhile, as a token of appreciation from the PNG government, De Gucht was presented with coffee products from the highlands and a portrait of a PNG woman with string bag.