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Port Moresby
October 17, 2021
News Sport

Solomon Islands Trade Ultimatum

Minister for Trade, Commerce &Industry Richard Maru is expected to submit a report to NEC onthe Solomon Islands Trade &Investment mission.

 

Maru’saidthese are important issues that have hampered exporters froPNG.

 

Minister Maru called a media conference yesterday to express satisfaction onthe recently concluded trade mission tothe Solomon Islands.

 

PNG isthe 3rd largest investor inthe Solomon Islands with close to 30 companies fully operational. Fromthe private-sector stand-pointoMinister Maru was pleased withthe interactions between manufacturers and importers from both sides.

 

Minister Maru however expressed concerns to his counterparts that were issues that needed to be addressed. Firstly,the implementations ofthe Melanesian Spearhead Group agreement concerning duty free access; secondly,the issue ofthe double taxation treaty; and thirdlythe finalization oftheInvestment Promotion and Protection Agreement.

 

Among recommendations that will be brought up to NEC inthe reportowill be forPNG to set up a Trade Office inthe Solomon Islands to servicPNG’s trade interest.

 

It is expected that some new exports tothe Solomon Islands market will commence in October, futher boosting what is already a vibrant trading relationship.

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