PNG-China Trade investment surpassed

This clearly demonstrates the huge significance in maintaining and expanding the existing bi-lateral relationship with China as the superpower continues to provide the needed markets for Papua New Guinea in Agriculture, Forestry, Fisheries, and Oil & Gas Industries.

Prime Minister James Marape revealed this today as he provided a brief on his meetings with China’s two most senior leaders – Premier Li Qiang and President Xi Jinping, adding that the reception and opportunities for meetings accorded to him and his delegation were at the highest level.

Learning from Madagascar

The eleven-day visit was arranged and supported by the Food and Agriculture Organization of the United Nations (FAO) as part of the European Union-funded STREIT PNG Programme aimed at promoting the development of vanilla value chain in Papua New Guinea.

Visa on Arrival Facility reopened

Chief Migration Officer, Stanis Hulahau, made the announcement today, welcoming passport holders from specific nations to access the VoA service at designated ports of entry in PNG.

Mr. Hulahau emphasized that the PNG government is reciprocating the same treatment to passport holders from countries offering similar privileges to PNG passport holders, whether Diplomatic, Official, or Standard.

The VoA facility had been temporarily suspended in 2019 due to the Coronavirus pandemic, which necessitated strict entry requirements.

Vietnam keen on trade with PNG

Ambassador of Vietnam to Papua New Guinea (PNG), His Excellency Nguyen Tat Thah in his meeting with the Minister for International Trade and Investment, Richard Maru on Friday August 25, said Vietnam was keen on Trade and Investment with Papua New Guinea (PNG).  

Vietnam currently has a population of over 98 million with an economy size of about USD449 billion with the service sector accounting for 41.3 per cent of the GDP.

Freighting agencies receive funding support

Coffee Minister Joe Kuli said this when presenting dummy cheques worth K1 million to various third level airlines and shipping agencies on Monday, July 31, 2023 in Port Moresby.

Minister Kuli said the volume of coffee freighted from these airstrips would increase if jetties and airstrips were upgraded and maintained.

He said the Coffee Industry Corporation (CIC) already has a program called the Freight Surety Scheme (FSS), which has been working closely with the freighting agencies to move coffee out from remote areas.

PNG Ports to invest in non-profitable ports

At least half of these ports will be rehabilitated using funding from the Australian Government, said Ian Hayden-Smart, the Officer-In-Charge of PNG Ports. 
He said PNG Ports owns and manages 15 ports, but 12 of these, Rabaul, Kavieng, Lorengau, Buka, Kieta, Daru, Alotau, Oro Bay, Madang, Aitape, Vanimo and Wewak, do not make money and are run as community service obligatory ports.
“These ports rely entirely on the profitable ports of Lae, Motukea and Kimbe to fund their operations. 

Govt addressing FX issue: Treasurer

“A bigger problem than law and order issues, a bigger problem than power shortages or lack of skilled staff,” said Ling-Stuckey, who is also Kavieng MP. 
“This is why the Marape-Rosso Government wants to return to full Kina convertibility so that our currency has full standing in the international community. 

PM commends growing trade with Guangdong, China

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.

Trade missions welcomed

Acting President of the Autonomous Region of Bougainville, Patrick Nisira, made this announcement on May 2nd.

Nisira, who is also the ABG Minister responsible for Commerce, Trade and Economic Development, explained that the 2001 Bougainville Peace Agreement (paragraph 79) speaks to this arrangement, and the announcement follows the Bougainville Government’s launch of the International Prong of its Independence Strategy launched in September 2022.

Treasurer meets with Japanese counterpart

Ling-Stuckey met with Masato Kanda on the sidelines of the ADB annual meetings in Incheon, Korea, on May 3rd.

“Japan has had an extraordinary record of economic success. Over the last sixty years, it has pursued outward-looking growth and export strategies,” said the Treasurer.

“These have lifted the standard of living of Japanese families dramatically – from just $USD475 per capita in 1960 to $US39,300 in 2021 (over K100,000 per person each year).