This is a brief explanation of the the impact of the 2018 APEC Summit hosted in Port Moresby, Papua New Guinea

1. The impact of the 2018 APEC
Summit to Papua New
Guinea’s Work and Economy
Samson NELSON

2. Work and ECONOMY?
Foundation of any economic system in any culture is
work. Organizations that deals with production and
distribution of goods and services makes up an
economic system (Crossman, 2019).

3. APEC Summit November 12-18 2018,
Port Moresby, Papua New Guinea
 APEC is a forum of 21 Asia-Pacific economies, designed to encourage a
growing and prosperous regional economy (PMC, 2018).
 APEC was the largest event that Papua New Guinea had hosted, it was
an opportunity to showcase itself as an emerging economy, and
promote opportunities for investment and development (PMC, 2018).
 Australia was proud to support Papua New Guinea to host APEC 2018
with focused security and capacity building assistance. Australia’s
support to Papua New Guinea for APEC 2018 reflects our strong, long-
standing partnership (PMC, 2018).

4. The negative impacts of 2018 APEC
 40 Maserati Quattroporte sedans bought for $209,000 to $345,000 each to be
used by some of the world’s top leaders was regarded a slap on the face of
citizens when Papua New Guinea was in need for polio vaccines (Beldi, 2018).

5. Benefits of 2018 APEC Summit
President Xi Jinping addressed that developed nations must support developing nations
through continued assistance to achieve global economic development (Post-Courier, 2018).
 Electrification Partnership was signed with Australia, US, and Japan by former
Prime Minister Peter O'Neil (James, 2018).

6.  Free trade throughout Asia-Pacific Region (Post-Courier, 2018). Restriction of
imports and exports does not exist in this trade policy.

7.  Exporting of Bilums to the international market (David, 2018)

8.  Papua New Guinea’s Digital upgrade is supported by US through APEC 2018
(OXFORD BUSINESS GROUP, 2018).

9.  Work or employment is the basis of economic systems
 Economies are built from establishments generating and supplying goods and
services
 APEC was intended to inspire a rising and successful regional economy
 The 2018 APEC Summit was an opportunity for PNG to showcase itself as an
emerging economy
 Australia supported PNG to host APEC because of their long-standing
partnership
 The APEC expenses by PNG government was a short-term loss for a long-term
gain
Summary

10. Long-term gains from hosting APEC 2018
 Electrification Partnership between Australia, US, and Japan
 Free trade throughout Asia-Pacific Region
 Bilums was made a global selling product
 Digital upgrading in PNG is supported by US

11. References
Autotitre. (2018). Microsoft Bing. Retrieved from up.autotitre.com:
https://up.autotitre.com/a51d1a7b75.png
Beldi, L. (2018, October 12). Microsoft Bing. Retrieved from www.abc.net.au:
https://www.abc.net.au/news/2018-10-12/png-splurges-on-40-custom-maseratis-as-polio-
returns/10366734
Crossman, A. (2019, Updated March 03, 2019 03). Microsoft Bing. Retrieved from www.thoughtco.com:
https://www.thoughtco.com/sociology-of-work-
3026289#:~:text=In%20all%20cultures%2C%20work%20is%20the%20basis%20of,culture%2C%2
0particularly%20in%20traditional%20societies%20versus%20modern%20societies.
James, D. (2018, November 21). Microsoft Bing. Retrieved from www.businessadvantagepng.com:
https://www.businessadvantagepng.com/pm-signs-papua-new-guinea-electrification-
partnership-with-australia-us-japan-and-us/
Post-Courier. (2018, November 18). Microsoft Bing. Retrieved from postcourier.com.pg:
https://postcourier.com.pg/benefits-apec-2018-papua-new-guinea/