Trade between Papua New Guinea and China has surpassed K13 billion, with a surplus in our favour as PNG continues to export more to China than import from the Asian superpower.
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.
Prime Minister James Marape revealed this 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.
“I have had very successful separate bilateral meetings with the Premier and the President. Out of the 150 nations attending the Belt & Road forum, we were accorded this rare privilege – to meet the head of government and head of State in our own meetings. Not too many were given this opportunity,” Prime Minister Marape said.
“This shows the importance China has attached to the relationship it has with PNG. The PNG-China relationship is a result of work we have been doing over the years since I took office in 2019.
“We have successfully marketed our country as a place for the production of food and energy, and we are receiving very good response from China. China is no ordinary nation. It has security of markets for all our produce. Papua New Guinea needs good markets for the export of our natural resources, and China is that market – just as India, Indonesia and the rest of Asia are.
“We are successfully deepening the trading and bilateral relationship with China, and under my watch, we will continue to expand it even further.
“Over the last four years, trade volume between PNG and China has seen a surplus for our country, meaning that PNG is exporting more to China than we are importing.
“Today, K13 billion is the volume of transaction that has taken place between our two countries, making China the most important trading partner besides Australia,” said Prime Minister Marape.
The Prime Minister said because of this deepening relationship with China, it was important that relevant ministers in the fields of trade, commerce and investments accompanied him on the trip for implementation upon return to PNG.
“Papua New Guineans must see the big picture. You want the economy to grow, so does your government. This is the number one focus of our government since 2019, and we are making it happen now,” said PM Marape.
