ABOUT 25 to 30 PNG Small and Medium Enterprises (SMEs) are involved in direct trade with Europe, President of PNG Europe Business Council Inc, Michael Sullivan says.
Mr Sullivan was speaking during a press conference in Port Moresby to announce the EU-PNG Trade, Business and Investment Conference which will start on the 11th October to 12th October.
He said: “Currently, we estimate that somewhere between 25 and 30 PNG SMEs are involved in direct trade with Europe. This is primarily in the area of agriculture – in particular vanilla bean, cocoa and coffee.”
Mr Sullivan added that there are European investments in PNG.
“These comprises European companies with a direct physical presence in PNG being a representative office or a local PNG subsidiary (for example Total, Applus, Heineken, Wartsila PNG, Steamships, DHL, Hargy Oil Palm, Deguro, Digicel and Air Swift) and European companies that export to PNG but do not have a direct physical presence in PNG (for example Facom (French tool manufacturer), Soderco (French water pump manufacturer), Victor Stationery (British stationery manufacturer) and Dutch Commodities BV (Dutch food manufacturer)),” he said.
The two-day EU-PNG Trade, Business and Investment Conference is aimed at strengthening sustainable business, trade and investment ties between the EU, PNG and the Pacific.
The first day will feature an opening session serving as a “curtain raiser” for the two-day programme, with round-table discussion panels and a business matchmaking session. Market analysis for specific economic sectors identified as potential priorities for trade and investment in PNG will be provided to participants.
The second day will focus on trade and investment as critical tools in achieving sustainable development, in the lights of global crisis and challenges faced by PNG, the Pacific region and the European Union as a partner. A practical dimension will look at particular business sectors in PNG and the region (e.g., green and blue economy) and their development in a sustainable and environmentally friendly way.
Information will be shared about trade and sustainability principles, with the view to inducing their mainstreaming in government policies and in business plans by aspiring entrepreneurs and business investors.
