“The government’s intentions on trade and this approach we are now taking on sustainable development are seen as a way forward for this project to contribute to this national agenda,” National Planning and Monitoring Minister Charles Abel said.
He was speaking at the signing of the new financing agreement for the 10th European Development Fund (EDF) trade related assistance project phase II to PNG in Port Moresby yesterday.
Worth about K18 million, the project would be carried out over four years.
The Department of Trade, Commerce and Industry would be the key implementing agency of the programme.
According to Abel, the project would underpin pillar No 4 of Vision 2050 called ‘security and international relations strategy’ by contributing to positive, construction and progressive international relations in trade, diplomacy and security.
“While there have been many changes globally and in fundamental ways over the last decades with varying challenges, the relationship between sustainable development and trade remains vital,” he said.
Abel said maximising the contribution that trade could make to sustainable development was important to the economy.
He was referring to the “PNG national strategy for responsible sustainable development”, which he launched on Tuesday.
The strategy called for the creation of opportunities for personal and national advancement through economic growth, smart, innovative ideas, quality service and ensuring fair and equitable distribution of benefits in a safe and secure environment for all citizens.
“We want to use our strategic assets sustainably to position us competitively in the global market.
Saying PNG holds 15% of the world’s tuna supply, the government wanted to make it a sustainble propostion for future generations, Abel said.
PNG Facts/ The National