Papua New Guinea
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Visit paves pathway for more PNG, China ties

Minister for International Trade and Investment Richard Maru says the country is serious with its business relationship with China.

Mr Maru made this statement following a week trip to China last week.

“My one-week visit to China was to let the Government and the people of China know that PNG is ready to do business with China,” he said.

China is becoming PNG’s biggest trading partner. PNG’s current exports to China is valued at K5 billion, whilst China’s total value of exports to PNG is worth K1.5 billion.

With more mining and petroleum projects coming on board, China will continue to be the country’s biggest market in the future.

“ We have to consolidate and deepen our relationship with China in order to secure future market not only for our resources industries but also our non-renewable sectors of forestry, fisheries, and agriculture,” Mr Maru said. He said with the Government’s focus to follow the path of Special Economic Zones.

China is the appropriate partner to learn best practices from given their own success which led to China from being an agrarian economy to one of the economic superpowers of the world today.

“We can learn a lot from China in terms of technology and skills transfer. This is a whole new unexplored area,” Mr Maru added.

Mr Maru also met with the Shenzhen Government and private sector where an agreement was reached between them and the Ministry and the Department of International Trade and Investment for the new PNG Trade Mission to be in a very prestigious office building in Shenzhen.

Mr Maru said under his Ministry he intend to have the Trade Mission opened in October of this year.

A team will visit Shenzhen in the coming weeks to finalise the negotiations on the office space and to cost out the whole setup and operation.

The position of the trade commissioner will be advertised this week so a trade commissioner could be appointed as soon as possible.

Mr Maru led a small delegation and they visited Hong Kong, and Shenzhen and Guangzhou of Guangdong Province from July 24-28, 2023.

The main objectives of this visit was to inspect the venue, and do awareness and drum up support from the Private Sector of Hong Kong and mainland China for the upcoming inaugural Papua New Guinea (PNG)-Asia Investment Conference that will be hosted in Hong Kong from October 16-17, 2023; to check possible locations in Shenzhen to open a new Trade Mission following the closure of the PNG Trade Office in Taipei, Taiwan; and meet with Shenzhen and Guangzhou Municipal Governments and their State-Owned Enterprises and Private Sector to inform them of investment opportunities in PNG.