PNG has top-class trade potential: Eoe

PAPUA New Guinea has great potential to develop into a first-class economy in the Asia-Pacific, says Minister for Foreign Affairs and International Trade Soroi Eoe.
He said during the launching of the National Trade Office (NTO) corporate plan 2021-2025 on Tuesday that PNG had a vibrant and growing population who could generate sufficient demand for local goods and services.
“Our proximity with Asia, the Pacific and Australia, positions us as an attractive trading partner.
“We, therefore, have to leverage such opportunities for the development of our country.”
He cited as an example the Ihu Special Economic Zone in the Kikori district of Gulf, which received K100 million funding from the Government.
He said the corporate plan would allow PNG to become an “internationally competitive export-driven economy built on and aided by an expanding and efficient domestic market”.
“I urge all trade actors, regulators, the private sectors and all other departments and institutions of government to support and work with NTO,” Eoe said.