Malaysia, PNG enjoy good trade

National, Normal

The National, Tuesday 18th September, 2012

TRADE between Malaysia and Papua New Guinea increased significantly in 2010 and 2011 and the Malaysian government expects the 2012 trade figures to either match or surpass the 2011 performance, Datin Seri Blanche Olbery says.
Olbery, the Malaysian High Commissioner to PNG, said this last Friday during celebrations to mark the 55th year of Independence for the Federation of Malaya which was formed on Aug 31, 1957.
She said a solid foundation had been built by co-operation in the areas of trade and investment.
“In 2011, total trade between Malaysia and PNG was worth K1.64 billion (RM 2.416 billion), a significant increase from K407 million in 2010,” Olbery said.
“We are thrilled by the prospect of bilateral trade relations between Malaysia and PNG.
“As of May 2012, total trade was registered at K950 million, which is already more than half of last year’s total trade,” she said.
Olbery said she was confident several government to government level visits would take place in the coming years and bilateral relations would be further enhanced.
She said the theme for her country’s anniversary this year was “One Malaysia: Promises Fulfilled”, driving the message that her country had achieved so much as a young nation since gaining independence from Britain.
“In the span of 55 years, Malaysia has graduated from a low income country that was heavily reliant on the export of primary commodities to what it is now, a diversified economy, highly industrialised and service-oriented nation.”
Olbery said Malaysia was now gearing towards attaining developed nation status by 2020.