With the nation’s capital facing major facelifts to accommodate the looming APEC 2018 summit, questions persist as to the usefulness of hosting an extravagant, international event.
APEC Executive Director, Dr Alan Bollard, is in the country for policy discussions, spoke exclusively to EMTV about the advantages of hosting the summit.
APEC Papua New Guinea 2018 will soon be upon us.
The hopes are that the international event will direct the world’s attention to our emerging economy, not only during the event but following the event.
Experts believe a ripple effect will take place, with trade opening across member economies and policies strengthened.
But what does this all mean to the average Papua New Guinean?
Besides the obvious transformation, Port Moresby is currently facing, how do the benefits of the annual event, trickle down to the taxpayers. How will it impact the economy and will it be beneficial or detrimental?
According to APEC Executive Director, Dr. Alan Bollard, transformation will happen over time. Investment will eventually pay off through sectors such as tourism.
The question which remains:Is Papua New Guinea APEC-ready? And if so, what does being prepared entail?
APEC PNG 2018 is the year-long hosting of Asia-Pacific Economic Cooperation meetings in PNG, which will culminate with the APEC Economic Leaders’ Meeting in Port Moresby.