Welcome to the EU Trade Related Assistance to PNG – Phase 2 project, commonly referred to as TRA2.
The 20 million kina TRA2 project is the second major programme of support provided to PNG in the area of Trade, with Phase 1 (TRA1) of the project implemented during the period 2009 to 2011. Implemented through a Financing Agreement between the EU and the Government, signed in 2014 (see photograph above), and in line with the PNG Development Strategic Plan 2010-2030, the programme’s purpose is to increase PNG capacities to benefit from international trade, thus leading to PNG sustainable and inclusive economic development, and ultimately contributing to poverty alleviation.
The programme has three main components as follows:
Building on TRA1, the TRA2 programme also seeks to promote more effective engagement with the private sector for sustainable development and will be instrumental in helping PNG reap the benefits of the PNG-EU trade agreement, i.e. the Economic Partnership Agreement (EPA)
Interim Economic Partnership Agreement
Papua New Guinea is the first country in the Pacific to have ratified and implemented a trade agreement with the European Union. This agreement was signed in 2009. It is called “interim” Economic Partnership Agreement (iEPA).
It grants PNG full free access for all products made in PNG to the European Union market with its 500 million consumers. Papua New Guinea has put the agreement to good use by boosting its exports of fishery products. In the fish processing sector alone it is estimated that 50,000 jobs have been created and are being sustained, thanks to the Trade Agreement.