Business link with China vital: Leahy

Business

GREATER business links between Chinese and Papua New Guinea companies can result in positive developments, PNG Chamber of Commerce and Industry president John Leahy says.
He told a trade delegate from Guangzhou, China at a business seminar yesterday that there were a number of sectors that had the potential for advancement through Chinese involvement.
“We know China is also being transformed in similar ways. So once again, there will be many areas where business can work together in the two countries to leverage similar experiences,” Leahy said.
“We are embarking on the reform of the power sector and there has been much interest from China particularly from the Guangdong province.
“Access to reliable and cost effective power is viewed by the PNG Chamber of Commerce and Industry as a critical perquisite to achieving the economic growth necessary to achieve broader economic goals.”
He noted the largely untapped potential of solar and geothermal energy sources in terms of business investment on the back of the reforms.
China Council for Promotion of International Trade Guangzhou president Wang Zudong signed a memorandum of understanding with the chamber yesterday.
Zudong said it would allow for the establishment of offices in Port Moresby and Guangzhou city to facilitate business between both countries.