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March 5, 2021
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New Membership for APEC Business Advisory Council

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by Neville Choi – EM TV, Port Moresby

Prime Minister, Peter O’Neill, has announced the new membership of Papua New Guinea’s APEC Business Advisory Council.

When making the announcement, Mr O’Neill said membership in the group will be rotated to ensure the fresh injection of perspectives and a broadening of business networking.

“I look forward to the input that our ABAC members will continue to provide to the government, and to the broader APEC process,” Mr O’Neill said.

“Very importantly, we need to ensure that our ABAC members consult broadly with the business community in Papua New Guinea.

“It is essential that ABAC Papua New Guinea shares the views and concerns of businesses in our economy with the region, and regional perspectives are shared with our businesses.

“ABAC cannot work in isolation and I look forward to our members increasing their engagement.”

PNG’s ABAC group now comprises of: David Toua, General Manager Corporate Affairs, Steamships Trading Company; Isikeli Taureka; Executive Vice President PNG, InterOil Limited; and Managing Director of Lamana Development Limited, Kostas Constantino.

“ABAC members have their own businesses to run and operate so changing representation from time-to-time will also reduce burden on the members’ time,” Mr O’Neill said.

“I would like to thank Wayne Golding and Matthew Tjoeing for their input to ABAC and hope that they continue to be a part of APEC business engagement in Papua New Guinea.”

The ABAC’s main role is to provide advice and effect consultation on issues affecting regional business activities.

ABAC has four formal meetings each year, and facilitates a range of other meetings throughout the year, that fosters business-to-government engagement, and small business development.

Every year, ABAC members are expected to develop an annual report for APEC Economic Leaders, which contains a series of recommendations for maintaining stability and enhancing economic growth in the region.

Mr O’Neill said the ABAC’s efficient running is important as the country prepares to host an ABAC meeting next year, and then host the APEC process in 2018, and the APEC CEO Summit.

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