Image source: http://ports.com/papua-new-guinea/port-of-kokopo/
Good news for all the business folks in the Niugini Islands of PNG. As I mentioned previously, the Investment Promotion Authority’s fourth regional office in Kokopo, East New Britain province is now in operation. The Kokopo office will cater for the New Guinea Islands region except for Bougainville which has an office in Buka due to its autonomous status.
East New Britain province is ideally located between West New Britain province and New Ireland Province with Manus towards the North West. It is the leading province in the region with its economy centered on agriculture. The province’s major earnings come from copra, cocoa, fisheries and timber exports including tourism.
East New Britain’s introduction into the export economy began in the 19th century. During that period villagers on the Gazelle Peninsula bartered their surplus coconuts for foreign goods with passing ships. By the 1890's villagers on the Northeast coast cultivated planted coconuts for the copra export. Coconut was the main export commodity until after the war, when cocoa was introduced to compliment the copra export.
Today, East New Britain Province exports more than 70% of Papua New Guinea's cocoa with 80% coming from small scale holder production. The third major category of export is hardwood timber and balsa wood. The major market is Japan with lesser amounts going to China, South Korea and others.
Opportunities exist to increase production and exports in the agriculture, marine and forestry commodity groups and to diversify its export-directed economy within the primary industries sector. Other opportunities within other sectors are yet to be developed, whose current exports are less than 1% of total.
Rabaul was the capital of the province until after the volcanic eruption in 1994, which forced almost all business and administration activities of the province to move to Kokopo. Since the relocation of the headquarters, Kokopo has been a thriving town and all business and administration activities are now centered in Kokopo town.
The IPA office is located at Room eight (8) of Skowhegan Building along William’s Road, Kokopo.
Labels: Commerce Regulations, Toksave