PNG focused on strengthening economic ties with China, says PM Marape

 Prime Minister  James Marape says Papua New Guinea is focused on strengthening economic relationships with China, particularly in downstream processing of raw materials for export.

He said this on Friday (June 3 2022) after a meeting with Chinese Foreign Minister, His Excellency Wang Yi, the third-highest person in the Chinese Cabinet who was on an eight-nation tour of the Pacific including PNG.

Chinese Foreign Minister Wang Yi and PM Marape.

The Chinese Foreign Minister had earlier met with PNG Foreign Minister, Hon. Soroi Eoe, where a number of agreements were signed and a plaque unveiled.

Officials from both countries are now in the process of putting together China-PNG free trade arrangements.

PM Marape said China was one of the biggest importers of PNG produce with PNG’s exports to China being bigger than China’s exports to PNG.

“We export more to China that we import from China,” he said.

“That cannot be ignored and we have to give acknowledgement where it is due, for them to pick up more of our exports, especially primary produce.

“My meeting with the Chinese Foreign Minister was more focused on economic relationships between our two countries.

“I gave him an assurance that our relationship is static and fixed, but I want to expand, especially in our economic relationship.”

PM Marape said PNG wanted to move strongly in the area of downstream processing.

“We want to add value to the produce of our country, create more jobs in that space,” he said.

“This is exactly the same message I gave when I went to Brisbane a week ago and invited Australian businesses to partner us in the downstream sector.

“We want to export processed coffee, processed cocoa, processed coconut, processed timber, processed oil and gas, processed mineral products – that’s the way my generation of leaders is shifting to move the country for the next 10 years.

“I told the Chinese Foreign Minister that PNG, over the next 10 years, is shifting towards downstream processing of our natural resources.

“Just like I informed the Australian marketplace, and Australian businesses, I asked the Chinese Foreign Minister to inform Chinese businesses about our focus on downstream processing.

“This is so that serious Chinese investors can come and partner local businesses in fisheries, timber, agriculture and others so that our finished products can be exported to the Chinese market.”

Next : PNG & China sign agreements