Fiji, June 18 -- A review by the United Nations Conference on Trade and Development (UNCTAD) has found that tariff reductions alone are not enough to make Papua New Guinea's economy more competitive, pointing instead to high transport costs, expensive energy, regulatory complexity and policy uncertainty as major barriers facing businesses.

The report, which examined Papua New Guinea's Tariff Reduction Programme (TRP) from its implementation through to its suspension and partial reversal after 2018, concluded that while tariff policy plays an important role in economic development, it cannot by itself address deeper structural challenges in the economy.

"The report reviews Papua New Guinea's tariff reduction programme, known as the TRP, ...