​APEC meetings to bring in forex: Authority

​As momentum builds towards the 2018 APEC Leaders’ Summit, income generated from lead up meetings will bring in much-needed foreign exchange.

Director-General of the APEC PNG 2018 coordination authority, Sir Charles Lepani, said this during the recent Business Advantage Papua New Guinea Investment Summit in Sydney, Australia.

Sir Charles said the lead up activities should see income streams flowing into the country and will benefit not only established companies but small businesses and the informal sector.

According to Business Advantage PNG, Sir Charles shared an overview of some of the benefits for both major businesses and smaller establishments.

They include accommodation, with hotels already paid for senior delegates lodging; hosting of meetings in regional centres that will be visited; local airlines to earn millions transporting delegates; as well engagement of women bilum makers to prepare gifts for delegates.

He said the inflows will begin starting with the APEC Transport Ministers’ Meeting next month.

Meanwhile, Sir Charles said by the time of the summit, the APEC Authority will reach its full strength of around 290 people. Currently they only have 28 people working in the authority.

The key APEC meetings in the lead up to the Summit are as follows:

  • 6-8 October 2017: APEC Transport Ministers’ meeting. This will be based at the Stanley Hotel and delegates will visit Alotau in Milne Bay on October 8.
  • 5-6 December 2017: First Senior Officials Meeting
  • 29 January–10 February 2018: Senior Officials Meeting
  • 23 April–5 May 2018: Senior Officials Meeting
  • 13-28 August 2018: Senior Officials Meeting
  • 12-18 November: Leaders’ Summit
Cedric Patjole