Prime Minister, Peter O’Neill, arrived in Pohnpei in the Federated States of Micronesia on Thursday for the 47th Pacific Islands Forum.
As outgoing chair of the Pacific Islands Forum, Mr O’Neill, acknowledged all the Pacific Island Nations in their collective efforts to deal with the concerns of Pacific Island nations.
He said the past year has seen much work put into concluding trade deals like PACER PLUS which is an agreement Papua New Guinea will not be part of.
He said this decision was reached after careful analysis and considering the size and structure of PNG’s economy would see a net loss for PNG through PACER PLUS.
Mr O’Neill however acknowledged that PACER PLUS will be a strong bonus to many of the economies in the region.