PNG in ‘strategic location’: PM

PAPUA New Guinea’s “strategic location” to major economies of Asia must be capitalised upon by the business community in the country and turned into business opportunities, especially in the area of food production and supply, Prime Minister James Marape says.
Marape pointed out the populations of the Philippines, China and Indonesia were likely to deal with food security issues in the near future and PNG must be available to tap into this area of the market. He was speaking yesterday at a business breakfast event in Port Moresby where he addressed members of the corporate community in the country.
Marape also pointed out the Government’s efforts to re-examine the renewable resources sector of forestry, fisheries and agriculture and move into downstream processing.
He said for agriculture and food, Papua New Guinea’s proximity to the populous economies of Asia, would provide the country great opportunities to export food to these countries.
“I point Papua New Guinean businesses to this area of investment in agriculture business and the food industry,” he said.
“You have 110 million in the Philippines who are living on 300,000 square kilometres of land.
“They will have food security issues in the future.
“You have 270 million Indonesians.
“They will have food security in the future.
“You have more than K1.4 billion people in China.”
Marape said these countries have good existing bilateral relations with PNG, which already created the basis for business opportunities to be harnessed and grown.
He added that agreements with the State to effect these business operations always stand and carry through no matter changes in governments. “Despite seasonal economic fluctuations and seemingly weak economic fundamentals, PNG is blessed with a robust system of democracy where the three arms of government are separate,” he said.
Marape encouraged investors to start looking seriously into food production and supply for the Asian markets, and said the Government stands ready to welcome such initiatives for joint-ventures and partnerships.