9 Nov 2011

PNG aims to host APEC in 2018

9:50 pm on 9 November 2011

The Papua New Guinea government has plans to host the Asia Pacific Economic Cooperation meeting in 2018.

The newspaper, The National, reports that hosting the event will cost more than 100 million US dollars, although China is offering to gift a convention centre with state-of-the-art facilities.

The government announcement comes just ahead of this year's meeting in Hawaii.

The Prime Minister Peter O'Neill says despite the cost, staging the APEC meeting would be a valuable exercise, with the economy likely to be boosted by up to two billion dollars from member nations.