The Government of PNG is kick starting the second edition of the Trade Related Assistance program (TRA 2), with support from the European Union to the tune of 20 million kina.
In line with the PNG Development Strategic Plan 2010-2030, the program’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 program’s success will depend on the achievement of 3 key results 4 years from now: 1: network of key trade institutions, led by a stable and performing trade lead agency is in place; 2: integrated national trade policy framework reflecting PNG priorities is operational and 3: trade facilitation systems are strengthened with reduction of average port clearance times.
Building on the first edition (TRA 1), the TRA 2 program will also seek to promote more effective engagement with the private sector for sustainable development.
Finally, the program will be instrumental to assist in reaping the benefits of the PNG – EU trade agreement, the so called interim Economic Partnership Agreement (i-EPA). It is estimated that the i-EPA would lead to the creation of over 50 000 jobs in the fisheries sector alone by 2016.
H.E. Minister for National Planning and Monitoring Charles Abel, H.E. Minister for Trade Commerce and Industry Richard Maru and H.E Ambassador and Head of the EU Delegation to PNG Martin Dihm took part in the signing ceremony on 3 April 2014 in the Gateway Hotel, Port Moresby, at the presence of 50 relevant stakeholders from the government, private sector and development partners.