Minister for Trade, Commerce &Industry Richard Maru is set on pursuing foreign direct investment relations, with countries inthe Asian region.
Minister Maru was invited bytheIndian government to speak on how developing countries can be supported to access global supply chain networks.
His basic message was that developing countries likPNG, want to share resources with countries and companies who aren’t just interested in resource grabbing but those who genuinely want to invest and help our people under a win-win arrangement.
At a media conference last week Friday in Port Moresby, he expressed disappointment that despitPNG’s seven year old formal diplomatic relationship with India, manyIndian companies don’t know thaPNG is an attractive investment destination.
The summit inIndia was aimed at examining links between global growth, investment directional flows and alleviation of poverty. It was attended by Governments, Trade MinistersandIndustry lLeadersfrom all overthe world.
After formal bilateral talks with his counterpart minister fromIndia, Mr. Maru invitedtheIndian minister to lead a Trade delegation tPNG later this year to sign a BelateralInvestment Promotion and Protection Agreement and a Double Taxation Treaty; all of which are still in draft forms.
Maru futher urgedthe acting secretary for the department of Foreign Affairs,the Commissioner forInternal Revenue Commission and managing director forInvestment Promotion Authority to fast trackthe finalization ofthe texts for the agreements betweePNG andIndia.
Delly Begu, National EMTV News
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