Big deals at trade fair

 By MALUM NALU

BUSINESS deals from the Taiwan trade fair in Lae and Port Moresby last week could be worth more than US$15 million (K36 million), Taiwan trade mission representative Daniel Hu said.

The fair was held in Port Moresby on Monday and Tuesday last week and in Lae on Thursday and Friday, attracting more than 800 visitors and buyers.

“The procurement obtained by the 20 Taiwanese exhibitors was more than US$2.6 million (K6 million),” Hu said yesterday. 

“The estimated amount of business deals will reach beyond US$15 million.”

Hu said it was 10 times better than last year’s inaugural fair in Port Moresby and augured well for strengthening economic relations between Taiwan and PNG.

“It is almost 10 times better last year,” he said.

“The fact speaks louder than words. 

“We should continue our good work and efforts for mutual prosperity and a brighter future.

“It was a great success,” Hu stressed. 

He said everything went smoothly according to their plan because the PNG business community responded favourably towards the fair.

Hu said the fair received more than 830 local visitors or buyers in Port Moresby and Lae. 

“It is real that the two economies – Taiwan and PNG — complement each other.

“Let’s work together to keep up the momentum,” he said.

With the warming trade ties between the two countries, PNG had expressed interest in seeking technical assistance from Taiwan to develop the country’s manufacturing sector.

In his welcome address at the fair’s opening in Port Moresby, Secretary for Trade, Commerce and Industry John Andrias said PNG had recognised Taiwan as an  economy and that the trade fair was an opportunity for business organisation from Taipei and PNG to explore opportunities for mutual benefit.

The business deals worth US$15 million generated during the trade fair had shown that the two countries’ business community had exactly done that, Hu said, reacting to Andrias’ call.