Apart from that, Minister for Planning Richard Maru will also be signing instruments to review the Exim Bank loan for the revival of the Pacific Maritime Industrial Zone (PMIZ) in Madang and One Belt One road initiative with China.
Announcing the trip yesterday afternoon, Prime Minister Peter O’Neill said the trip is important as it will certainly free trade opportunities between the two countries.
He added that PNG must step in and be part of China’s economic growth, since it is the second largest economy in the world.
“Our country needs trade and investment and such partnership with China will be beneficial,” stated the PM.
He further clarified that whilst in China, he will also be signing agreements with Asian Infrastructure Investment Bank to make concessional funding available to the country.
PNG is the first in the Pacific to become the member of the Asia Investment Bank, apart from Australia.
The delegates will be travelling on a charter Boeing 767 aircraft which, for the first time, will do a direct flight from Port Moresby to Shanghai.
This flight will be used as a test flight in preparation for the first commercial flight in September.
The PM also clarified that all the travel costs will be met by the Chinese government.
Meantime, Minister Maru said the trip will also be an introduction for most first time MPs who are on the trip to experience and learn the partnership between PNG and China.