Evidence of substantial efficiency gains seen in Papua New Guinea, according to analysts

Singapore, 15 July 2009 - "Papua New Guinea has made important progress in implementing the Bogor Goals," says a team of independent analysts.

This statement was made in an external review of the economy's ability to reach APEC's Bogor Goals, presented to officials today. Having reduced tariffs, says the team, will contribute substantively to Papua New Guinea's ability to reach its commitments by 2020.

According to the same report, Papua New Guinea has made notable efforts in promoting liberalisation and facilitation in the services sector - most notably in telecommunication, legal, tourism and energy services. Progress has also been made in standards and conformance and customs procedures. The team also applauds efforts to improve regulatory transparency and to combat corruption.

The Bogor Goals are that free trade and investment in the APEC region should be established by 2010 in developed economies and by 2020 in developing economies.

Peer Reviews are conducted by independent, external review teams on a rotating basis and draw from the information found in economies' most recent Individual Action Plans, reports issued by the World Trade Organisation and academic studies pertaining to the economy under review.

A synopsis of the Peer Review may be found at:
http://www.apec.org/Press/News-Releases/2009/~/media/Files/Press/NewsRelease/2009/IAP_Brief_PNG_FINAL.ashx

The complete report will be made available at the close of the APEC Senior Officials' Meeting on 19 July at:
http://www.apec.org/Press/News-Releases/2009/~/media/Files/Press/NewsRelease/2009/2009SOM2_IAP_PeerReviewFull_PNG.ashx

Photographs may be found at: http://www.apec.org/Press/Photos/2009/20090715_iap_png.aspx