Commerce and Industry

“Kanawi land was surrendered to the State in 1972. It has been lying idle for nearly 43 years until this day the foundation investor sets foot on to make it the land of milk and honey,” Andrias told the people at the launched of the project on Wednesday at Yangoru Station.

The K55 million project will be developed by Kumul Consolidated Holdings Limited (KCHL) representing the State and developer, Innovative Agro industry (IAI).

IAI is a subsidiary of LR Group of Israel.  

The final document is a result of wider stakeholder consultation with European Union assistance under their Trade Related Assistance program-Phase 2 (EU TRA 2) by providing expertise.

The Department of Foreign Affairs, Trade, Commerce and Industry had a local drafting team supported by local consultants put together this document.

The aim of the workshop was to allow stakeholders to go through the policy to give their inputs and see if there are any issues that need validating to allow the policy to fine tune.

“All financial institutions must collaborate with the Government to help provide access to finance, training and development for local SMEs,” Maru said.

 Maru’s ministry will be launching the country’s first SME Policy and Master Plan this Thursday.

Bank South Pacific is backing the program with K50,000 today in Port Moresby.

The policy details the O’Neill-Dion Government’s plan to support and establish 500,000 SMEs by the year 2030.

Bulolo MP Sam Basil challenged the Department of Agriculture and Livestock (DAL), and Department of Trade, Commerce and Industry to support it.

According to DAL, the agriculture sector supports 6.1 million Papua New Guineans which make up 85 percent of the country’s population.

“We have preached about SME development and empowering our local farmers and businesses yet we cannot see beyond the horizon,” Basil said.  

The WTO Reference Centre which was recently launched is an important tool for addressing PNG’s trade information gaps.

“Users are able to conduct desktop and literature research on international trade using the facilities in the Reference Centre.

“International businesses are able to use the information ¡n the Centre to assess trade flows as well as tariffs and non-tariff measures facing exports in other member’s markets.”