K8 billion trade volume in 2017

Around K8.6 billion (US$2.8 billion) in trade volume has been conducted between PNG and China in 2017.

This was revealed by Deputy Chief of Mission of the Chinese Embassy, Yao Ming.

He said economic cooperation between PNG and China has grown over the last few years since the state visit by Prime Minister, Peter O’Neill, in 2016.

Since then trade has increased under the guidance of both countries leaders.

“Bi-lateral relations between both countries have proceeded very well and fast, especially in the area of economic cooperation, our two countries trade volume reachedUS$2.8 billion in 2017,” said Deputy Ambassador Ming.

The Deputy Ambassador also highlighted how many Chinese companies have been part of the infrastructural projects in PNG.

Ming said it was part and parcel of China connectivity goal. The most recent, the signing of a K60.6 million Gurney Airport upgrade in Milne Bay.

“In a sense, this demonstrates our two countries development strategies are in line and consult with each other under our Presidents  ‘One Belt, One Road’  framework. I think this will be a win-win case-point,” he said.

Ming expressed support to PNG and Chinese companies and also said that bi-lateral and trade relations between both countries would only grow stronger.

Cedric Patjole