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Wednesday, 10 November 1976

Other matters covered by the Agreement include, inter alia:

Consultation on the contribution of direct Australian investment to the social and economic development of Papua New Guinea in accordance with that Government's foreign investment policies and priorities;

Industrial, technical and administrative cooperation; the promotion of trade; consultations on the supply of scarce essential commodities; the encouragement and facilitation of commercial contracts; the association of other States with the Agreement; and the periodic consultation and review of the operation of the Agreement.

I have arranged for copies of the Agreement to be placed in the Library for the reference of honourable members. I intend to table the Agreement in the House in the near future and I understand that legislation will be introduced in the House as soon as possible to amend the Customs Act, the Customs Tariff Act and the Sales Tax (Exemptions and Classifications) Act. Once this legislation is passed through both Houses the Australian Government will be in a position to exchange notes and thereby to bring the Agreement into force.

Honourable gentlemen will be aware that I went to Papua New Guinea on behalf of the Minister for Overseas Trade (Mr Anthony) who is temporarily indisposed. I express my appreciation for the assistance rendered to me on that visit by the Permanent Head of the Department of National Resources, the Permanent Head of the of the Department of Overseas Trade and Mr McDonnell a senior officer with the Department of Overseas Trade. I commend the statement to the House.

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