Facilitation 2.0: trade and investment in the digital age

Papua New Guinea has embraced growth in the
digital economy and targeted e-commerce, as part
of its development strategy. The theme of APEC
2018 in Papua New Guinea was “Harnessing
Inclusive Opportunities, Embracing the Digital
Future”, as the country sought to leap into the
digital age and open new growth opportunities.
In support of this agenda, the World Economic
Forum launched Facilitation 2.0, a novel initiative
piloted in Papua New Guinea. Facilitation 2.0 was
possible thanks to the support of the Government
of Australia.
The initiative aims to advance practical, business driven reforms at the intersection of trade facilitation. Facilitation 2.0 ends at a challenging time. Papua
New Guinea’s economy has been profoundly
negatively affected by COVID-19 due to lower
commodity prices, weakened global demand and
less favourable terms of trade. Nevertheless, the
government reacted swiftly to the shock, and future
growth prospects are promising with the right
actions. According to the World Bank Group, real
GDP could reboundw to expand by more than 3%
in 2021, up from a contraction of 1.3% this year.1
Building upon the steps described in this report
should ensure the benefits of recovery and future
growth are broadly distributed.