19.03.2019 (POST-COURIER) - FOREIGN Minister Rimbink Pato officially announced that Papua New Guinea has signed a trade continuity agreement which will see British businesses and consumers benefiting from continued trading arrangements.
This will also eliminate all tariffs on all goods imported from PNG into United Kingdom and will gradually remove around 80 per cent of tariffs on British Exports to PNG and will have particular benefit on Palm Oil and tuna.
Mr Pato also signed six PNG maritime boundaries charts. This is after PNG signed off on the Brexit deal this month.
PNG was among Pacific island countries that signed an agreement with UK to maintain the continuity of the Trade Agreement.
“I am delighted that PNG High Commissioner, Winnie Kiap joined the international trade secretary Dr Liam Fox to sign the UK-Pacific agreement in London on 15th March, 2019,” Mr Pato said.
“It’s reflective of the importance the UK and PNG place on the agreement. The Trade continuity agreement signed will see British businesses and consumers benefiting from continuing trading arrangements with Papua New Guinea after the UK leaves European Union (EU).
“Businesses will be able to continue to trade as freely as they do now, without any additional barriers or tariffs.
“It eliminates all tariffs on all goods imported from Papua New Guinea into the UK and will gradually remove around 80 per cent of tariffs on British exports to PNG. This will have particular benefit on Palm Oil and Tuna in PNG,” he said.
“UK is expected to exit the EU by 29th March 2019.”
Mr Pato also said that he had officially signed the six PNG Maritime Boundaries Charts which will secure national jurisdiction over PNG’s maritime resources.
“I officially signed six PNG Maritime Boundaries Charts on Friday 15th of March 2019. It now concludes an essential step in securing National jurisdiction over our maritime resources in accordance with the United Nations Convention on the Law of the Sea,” Mr Pato said.
“The Charts will be deposited at the United Nations in New York.”