2 hours Ago By postcourieronline
THE Republic of China remains the largest trading partner of PNG, with an annual trade of K13 billion from January to August this year. Chinese Ambassador to PNG Yang Xiaoguang made this statement while paying a courtesy call on Finance Minister Miki Kaeok in Port Moresby last week. Ambassador Yang highlighted that the annual trade between the Republic of China and PNG was worth K13 billion from January-August, making China the largest trading partner with PNG.
He said the PNG-China Free Trade Agreement (FTA) Joint Feasibility Study Report spearheaded by the Minister for International Trade and Investment Richard Maru is expected to be delivered towards the end of this month. Ambassador Yang assured that the Government of China’s continuous assistance in the progressive development of the country, emphasising more on China’s commitment to assist PNG in the economic growth of the country will continue. On behalf of the government, Mr Kaeok acknowledged the visit of Ambassador Yang and assured the Chinese Government on PNG’s strong stand on the One China Policy and acknowledged the strong diplomatic relations between the two countries going forward.
He highlighted that the Republic of China was the biggest trading partner with PNG buying the largest portion of the country’s Liquefied Natural Gas (LNG) exports including other minerals and cash crops respectively. Mr Kaeok acknowledged the continuous support of the Chinese government in the general infrastructural development of the country, adding that China has played a pivotal role in the infrastructural development of Port Moresby, Lae, Mount Hagen and the other centers of the country. Mr Kaeok said he is certain of the realisation of a free trade agreement between the two countries which International Trade and Investments Minister Maru has assured the government will be completed soon.
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