By Lorraine Gabina – EM TV News, Port Moresby
The National Executive Council has made two announcements, endorsing Papua New Guinea’s membership to the International Cocoa Organisation (ICCO) and the signing of the International Cocoa Agreement (ICA) 2010.
According to Prime Minister, Peter O’Neill, the cabinet approved Foreign Minister, Rimbink Pato’s, signing of the International Cocoa Agreement (ICA).
“Cabinet has directed the Department of Foreign Affairs to proceed with Notification of Provisional Application after the signing and to expedite the domestic preparation for ratification,” the PM said.
This agreement will ensure Papua New Guinea has the legal basis for representation and be recognised as a member of ICCO to participate and contribute actively in the decision making process.
Cocoa is currently the third largest export commodity contributing significantly to export earnings of PNG’s economy.
He said apart from being a sustainable product, cocoa has the potential to provide employment opportunities to the majority of people living in rural areas.
Cocoa is among the largest export commodities notably contributing to the export earnings of PNG’s economy.