Papua New Guinea

Continued delay by Pacific Island countries to negotiate a successful Economic Partnership Agreement (EPA) could result in the region missing out in millions of European Union (EU) funds.

Papua New Guinea and other Pacific Island countries are likely to be forced to drop trade barriers earlier than planned to Australia and New Zealand.

It has been a relatively easy matter for Pacific Islands Country (PIC) governments to sign regional trade agreements such as PICTA (Pacific Island Countries Trade Agreement - excluding Australia and New Zealand) and PACER (Pacific Agreement for Closer Economic Relations - including Australia and NZ.)