PNG, China focus on trade

PRIME Minister James Marape says China is focused on improving the economic sector of Papua New Guinea.
“We relate to China deeply from an economic perspective and China’s leadership understands that very well,” he said.
“In 2022, we were exporting K7 billion worth of trade to China, not just in the oil and gas sector but in other exports as well.
“However, there is a huge trade imbalance because we sell twice as much to China than we import from them.
“Since this coalition Government came into office in 2019, we have been working on the space of trade with most of our foreign relations.
“China and PNG have always had a good relationship since 1976 when we declared the One China Policy and we have still maintained that.
“China understands us in the economic space and we have given full assurance that our relations will not change.”
Marape made these remarks after a meeting with Chinese
Foreign Affairs Minister Wang Yi in Port Moresby on Sunday.
“Trade supersedes aid and grants and we are engaging in
conversation to build a stronger economy in our country,” he said.
“Our economy in the country is dependent on what we produce that finds its market externally.
“Yi is cognisant of our need to ensure trade flows between PNG and China.
“It is time for PNG to steps up in agriculture as it has the greatest potential to be produced and sold to China.
“The export earnings will find its way into the pockets of our people directly unlike oil and gas.”
Meanwhile, Marape said Australian Prime Minster Anthony Albanese arrived in the country yesterday.
“This visit is of great importance to us and we will receive and host him,” he said.
“I will join him for the walk at Kokoda out of respect for our own relationship.
“It will be an honour and privilege to walk with him and reflect on our journey thus far.”