PNG, Malaysia trade rises by 10pc

TOTAL trade between Malaysia and Papua New Guinea has increased by 10.3 per cent to US$611 million (K2 billion) last year compared with the previous year, High Commissioner Mohamad Nasri Abdul Rahman, pictured, says.
“This means Malaysia remains PNG’s second largest investor, and it has been that way for the past decade,” he said.
Speaking at a ceremony in Port Moresby to mark Malaysia’s 62nd Merdeka (Independence) Day on Saturday, Nasri pledged that his commission would continue to strive to grow trade and investment between the two countries.
“In the past 10 years, the investments had created more than 17,000 jobs in various sectors, mainly in mining, forestry, manufacturing, retail and construction, in PNG,” he said.
“Our total investment here last year was recorded at more than US$100 million (K338 million).”
Nasri said Malaysia welcomed high quality investments, particularly in the new growth areas, with emerging technologies, as well as capital-intensive, high value-added, knowledge-based, skill-intensive and export-oriented industries.
“The ease of doing business in PNG is a strong attraction and this should encourage more Malaysians to invest in this country,” he said.
“Malaysian entities are urged to start expanding their businesses with the abundant opportunities offered here.
“On the other hand, we welcome inquiries from PNG companies that are interested to buy Malaysian products or to engage the services and expertise that Malaysia can offer.”
Nasri said Malaysia, through its Malaysian technical cooperation programme (MTCP) offered opportunities for Papua New Guineans to attend courses, seminars and meetings.
“As of 2019, 287 officials from PNG have participated in the MTCP,” he said.
The MTCP courses have given all participants the fascinating experience and the courtesy of Malaysians aimed at promoting better understanding between the peoples of Malaysia and PNG.”
Foreign Affairs Department deputy secretary Joseph Varo, who represented Foreign Affairs and International Trade Minister Soroi Eoe at the ceremony, said Malaysia was the fourth major partner for PNG in terms of exports.