Prime Minister and Foreign Affairs Minister James Marape has expressed his appreciation for the increasing trade ties between Guangdong, a prominent Chinese province and Papua New Guinea.
This was expressed during a meeting with Guangdong Governor Wang Weizhong recently.
The discussions revealed a substantial surge of 265.2 percent in trade volume between Guangdong and PNG from January to May, 2023.
Prime Minister Marape graciously accepted Governor Wang's invitation to visit Guangdong during his upcoming trip to China later this year.
Also at the meeting were National Capital District Governor Powes Parkop, State Enterprises Minister William Duma, Fisheries Minister Jelta Wong, Internal Security Minister Peter Tsiamalili Jr, other MPs and senior public servants.
Known as China's economic powerhouse, Guangdong boasts the largest and fastest-growing economy in terms of GDP among the 31 provinces and municipalities in mainland China.
It is home to the influential Pearl River Delta (PRD) Economic Zone, along with the Shantou, Shenzhen, and Zhuhai Special Economic Zones.
Governor Wang stated, "Import and export trade between Guangdong Province and Papua New Guinea reached an impressive US$477 million (K1.6 billion) last year, marking a notable increase of 93.28 percent.
“The positive momentum has continued to strengthen, with import and export trade between our regions growing by 265.2 percent from January to May this year."
Expressing his satisfaction with the flourishing trade and investment levels, Prime Minister Marape emphasised, "The trade partnership between our two regions has seen a remarkable growth of over 200 per cent. However, there is still ample room for expansion, and we are eager to foster further collaborations with your province."
Recognising Guangdong as PNG’s primary trading partner in China, Marape commended Governor Wang's leadership.
“Guangdong stands as a shining example of a prosperous Chinese province. We warmly welcome investors from your province and encourage the continued strengthening of relationships between our capital city and your province and cities. It is a pleasure to have you here for the second time, and you are most welcome,” stated PM Marape.
The Prime Minister also highlighted the establishment of special economic zones within Port Moresby and other regions across the country.
“We are creating special economic zones within Port Moresby, as well as in other parts of our country. I invite you to become a friend of our nation and to promote Papua New Guinea as a prime business destination."
Furthermore, Marape expressed PNG's willingness to provide land to Chinese investors interested in forestry, fisheries, oil and gas, and other sectors.