PNG, NZ to strengthen trade ties

 PAPUA New Guinea, in consultation with the New Zealand Business Council, has announced the appointment of a new executive team as the two countries look to strengthen trade and economic ties.

The newly-elected council will work with the New Zealand Trade and Enterprise to identify opportunities for Papua New Guinea and New Zealand businesses to work together in a number of sectors.

Reg Monagi, pictured, a senior executive with extensive, business experience and connections in PNG and NZ, will lead the council as president.

Supporting Monagi are vice-president Dr Miok Komolong, secretary Hubert Namani and treasurer Eddie Ruha.

Peter Hobbs, the recently appointed NZ Trade Commissioner to PNG, will help establish the council as an ex-officio member.

“Papua New Guinea’s economy has been growing solidly year on year, creating demand for new products and services across almost every industry,” Monagi said. 

“The rise in gas and mineral developments and construction projects in PNG has opened numerous opportunities for New Zealand companies to establish strong trade relationships.” 

PNG is New Zealand’s second largest export market in the Pacific and the largest economy in the region.

Around 2500 New Zealanders are estimated to live and work in PNG, with more looking to partner with local PNG businesses for mutual growth opportunities. 

The NZ-PNG Business Council chairman Stephen Eagle sent a congratulatory message from Auckland to the new executive saying he was delighted to learn that a corresponding business council has been established in PNG. 

“The two councils share the objective of assisting member countries in securing and carrying out business in the two countries, to high standards of professionalism,” Eagle said.

“The business councils enjoy excellent support from the respective Governments, and much has been achieved in recent years in terms of putting clients and customers in touch with suppliers and service providers, and in providing advice to help firms avoid pitfalls and surmount challenges”.