PNG can capitalise on Taiwan tech: Official

TAIWAN is Papua New Guinea’s (PNG) fourth largest export market and fifth biggest trading partner, Taipei Economic and Cultural Office in PNG representative Ben Wang says.
“Trade volume exceeded US$1.4 billion (about K4.9 billion) last year and PNG enjoys a significant trade surplus with Taiwan, and our economies are complementary,” he said.
“Those facts are more than enough national interest reasons for PNG Government to maintain its trade office in Taiwan.”
The Government had announced in January that its trade office in Taiwan would be closed in a global review of its overseas mission offices.
Wang said as Asia-Pacific Economic Cooperation (Apec) members, PNG and Taiwan shared a common interest in developing strong trade and investment relations.
“All Apec economies and G20 countries have representative offices in Taiwan, including the United States, Australia, and New Zealand,” he said.
“Therefore, it is in line with PNG’s interest to maintain its trade office in Taiwan.”
He said Taiwan was a leader in global technological advances, particularly in the digital future of Artificial Intelligence, 5G, drones, low orbit satellites and electronic vehicles.
“Taiwan Semiconductor Manufacturing Company is the world’s leading supplier of Apples silicon processors for iPhones and Mac PCs, as well as other high-tech products from aerospace to consumer electronics,” he said in an exclusive interview with The National.
“PNG, with its abundance of natural resources, has a good chance to join Taiwan’s high-tech supply chain, particularly in the energy and raw materials sector.”
Wang said Taiwan-PNG economies were complementary and that Taiwan’s nuclear power phase-out by the end of 2025 would create a huge energy demand gap during its transition to renewable power capacity.
“PNG can seize this opportunity to become a vital LNG and raw materials supplier to Taiwan, which will boost PNG’s exports and create job opportunities,” he added.
Wang urged the Government to continue the operation of PNG’s trade office in Taiwan and deploy an official to explore business opportunities there.