Sweden eyeing PNG trade market

Business

A SWEDISH trade mission is in the country to explore the country’s structural reforms, policy developments and economic outlook.
According to the Sweden Embassy, this is the first of such visit by a Swedish delegation to Papua New Guinea .
The 24-member delegation representing different companies in various sectors arrived yesterday.
Swedish Ambassador to Papua New Guinea  Par Ahlberger said: “I am proud to head the first Swedish Trade Mission to Papua New Guinea with an impressive group of Swedish-related companies, representing a wide range of sectors. The programme is impressive, including meetings with the government, the diplomatic community, international organisations, banks and individual companies.
“I am delighted to have such an impressive group of companies in the trade mission, as well as Honorary Consuls, the President of the Swedish Australian Chamber of Commerce and the Swedish Trade Commissioner.”
Some of the companies have established commercial relations in Papua New Guinea  while for others, it is a new market.
Together, these companies have about 400,000 employees and with around AU$135 billion (K324.83 bn) annual turnover.
Sweden and Papua New Guinea  established friendly relations 41 years ago.
The bilateral trade figures are modest, but with a positive trend in Swedish import from Papua New Guinea , in particular for fish, coffee and vegetable oil.
Swedish export to Papua New Guinea  is dominated by machinery and telecommunications equipment.
President of Swedish Australian Chamber of Commerce Teresia Fors said: “With this Swedish Trade Mission to Papua New Guinea we join forces to develop a closer bond with this emerging market with a great potential. We hope that as a result, trade will further increase between Papua New Guinea, Sweden and indeed Australia as well as the broader European business community.
“We are delighted and honoured to be so generously welcomed by the Government of Papua New Guinea and its people at this historic occasion and we are confident that the outcome of our visit will be mutually beneficial.”

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