trade-5

PNG exports to Indonesia increasing: Ambassador

Business

By CLIFFORD FAIPARIK
EXPORTS from Papua New Guinea to Indonesia increased last year while imports decreased, according to PNG Ambassador to Indonesian Peter Ilau.
Ilau said exports to Indonesia increased to K69.71 million in the fourth quarter of 2016, from K54.69 million in the third quarter of 2016.
“On the other hand, exports to PNG from Indonesia decreased to K367.38 million (US$117.67 million) in 2016,” he said.
PNG exports to Indonesia mostly commodities such
as vanilla, cocoa and other cash crops.
Indonesian exports to PNG steel and iron, machineries and automotive, food and beverages, electric equipment, palm oil processor, processed rubber, textile, aluminum, pulp and paper, ceramic, marble, optical equipment, electronic, pharmaceutical products, sport and music equipment, processed wood, handicraft, processed gold accessories.
Meanwhile, PNG-based Indonesian embassy counselor Johannes Made said although the popular Batas market on the PNG-Indonesia border in West Sepik was flourishing, it was not a formal trade practice.
“The trade in the border is not a free trade.  It is more or less an informal, traditional bilateral trade,” Made said.
“The value of goods purchased in Batas which is allowed to enter Papua New Guinea is around US$300 for each person.
“The value of trade in Batas is relatively small, less than $1 million (estimation) in a year.”

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