Papua New Guinea becomes the latest country to join the IBMC’s SME Economy eMarketplace Trade Flow System from United Arab Emirates (UAE) to the business community from Papua New Guinea.
The trade flow currently connects 52 other countries. IBCM is an organization, which has created various opportunities for supporting various entities within the realm of business and investments.
This was a key outcome of the Business to Government (B2G) networking session organized at the beginning of the week by the PNG Expo 2020 Pavilion in Dubai in partnership with IBMC Global, a Dubai-based investment company, which attracted interest from Emirati and Indian investors in tourism, information and communication technology (ICT), transport and timber trade.
What this means for Micro to Small and Medium Enterprises (MSME) in Papua New Guinea is that they can register on the SME Economy app and have direct access to 50+ countries including Emirati and Indian business communities and nationals to discuss business opportunities without the need for a middleperson.
Minister for Information and Communication Technology, Timothy Masiu and PNG representatives from National Trade Office, Tourism Promotion Authority, Investment Promotion Authority, Department of Foreign Affairs and International Trade and the Department of Information and Communication Technology witnessed the announcement in Dubai, by IBMC Global.
“I welcome the initiative to connect MSMEs directly with their counterparts in the UAE and India and I thank our team at the PNG Expo 2020 Pavilion in Dubai for introducing us to IBMC Global and the application.
“This technology will open up opportunities in tourism infrastructure, ICT, transport and timber trade and investment for MSMEs in both countries,” Mr Masiu said.
He would be writing to Minister for Commerce to inform him of the opportunities for trade and investment, and reaching out to trade bodies like the PNG MSME Council to make use of this opportunity.