Masiu vows support for trade zone proposal

SOUTH Bougainville MP Timothy Masiu is pledging his support behind the proposed Bana Free Trade Zone (FTZ) or special economic zone (SEZ) to bring it to realisation.
Masiu, who is Minister for Communication and Information Technology, made the commitment in support of a presentation on the Bana free trade zone initiative tabled during the South Bougainville development authority board meeting in Buin recently.
He said the Bana FTZ was a homegrown initiative that would become the catalyst for economic investment and growth in South Bougainville and the region.
Maisu said the free trade zone concept was captured in the district’s five-year development plan and he would support it.
He said Bougainville was located along the world trade route and was only seven days away from Asian trade markets.
“Once it (free trade zone) is approved and advertised investors will come,” Maisu said.
“So if we organise ourselves, people will come.
“Of course there will always be people with negative thinking, but we must explore avenues to create and grow our economy.
“This is something very positive.”
Bana FTZ team leader Paul Kevori made a presentation to the DDA board on the status of the project and highlighted that funding support was needed to progress and complete social mapping and registration of ILGs as well as training and awareness of landowners.
He said the trade free zone concept was hatched with the view to create an export hub in South Bougainville.
He said it was taking long because they wanted to ensure landowners were properly educated to understand the concept.