Minister for International Trade and Investment, Richard Maru says, Papua New Guinea (PNG) will see flux of Indonesian investments following the State Visits by the Head of both countries, recent high-level trade and investment mission to Indonesia led by the Deputy Prime Minister, John Rosso, MP, and the signing of a Joint Declaration to establish a high-level Dialogue and Cooperation Mechanism.
Minister Maru said, “It is time for PNG to move beyond being a primary exporter of raw materials and focus on value addition through downstream processing to create more jobs and significantly enhance the monetary value of our exports.”
“We do not have to look far, Indonesia is our closest neighbor and has successfully navigated this path and is now a formidable player on the global stage. They are willing to share their experience and expertise, and we must stand ready to learn from them and collaborate with them.”
He said Indonesia was the largest economy in Southeast Asia. Today, it is the world’s fourth most populous nation and the 16th largest economy in the world by nominal Gross Domestic Product and the seventh largest in terms of purchasing power parity.
The Indonesian Government has recommended that PNG should go down the same path and announce the ban on raw material exports.
“Our Government has declared that we will go into downstream processing, but we do not have to reinvent the wheel, we have Indonesia just next door to learn from. The Indonesian Government is ready to assist us in every way possible,” said Minister Maru.
