How will Papua New Guinea benefit from APEC 2018?
Papua New Guinea | Economy
The eyes of the world are turning towards Papua New Guinea as it prepares to host the APEC Economic Leaders’ Week, the biggest ever international event on its soil.
Starting on November 12, the week-long event is the culmination of PNG’s 2018 chairmanship of the Asia-Pacific Economic Cooperation forum.
As Port Moresby buzzes with activity ahead of the arrival of political heavyweights such as Chinese President Xi Jingping, Russian President Vladimir Putin and US Vice President Mike Pence, many international observers are asking what the event means for the Pacific nation host, and how can it capitalise on the international spotlight for long-term benefits.
With these questions in mind, Patrick Cooke, Oxford Business Group’s Regional Editor for Asia, spoke with Tjeerd Ritmeester, OBG’s Editorial Manager in PNG, to get a sense of how hosting preparations have changed the face of the capital, and whether the business community in PNG is ready to take advantage of the exposure and networking opportunities provided.
Another area of discussion is APEC 2018’s theme of ‘Harnessing inclusive opportunities and embracing the digital future’, and PNG’s progress in digital transformation as it seeks to address severe development challenges. Taking into account the current international climate of protectionism, they also explore the implications of the US president’s decision not to attend the summit, and the extent to which China is filling a regional leadership vacuum created by Trump’s indifference.
Finally, our analysts look ahead to see how Papua New Guinea can ensure a meaningful and lasting legacy from its year-long chairmanship of this high-level, multilateral forum.