PNG will enter into a new trade and investment relationship with emerging economies in the region. This statement was emphasized by Trade, Commerce and Industry Minister Richard Maru yesterday.
Mr. Maru said PNG will move away from traditional trading partners to create mass employment and sharing of the nation’s wealth in the non-extractive sector.
Indonesia, Philippines, China, Malaysia and European countries are targeted to be the first negotiating countries to begin with. PNG being able to replace imports like rice, beef, sheep, vegetable, fruits and furniture, etc.”, he said
He commended the efforts and early success of the LR Group from Israel in producing vegetables and their expansion, going into a commercial diary project in the Markham Valley and investments in Agriculture in the Hela Province. He said that we need more of such investments but with financially able blue chip companies.
Mr. Maru said PNG is now highly sought as an investment destination after successfully delivering the nineteen billion LNG project, five months ahead of schedule.