PNG seeks Taiwan tech for industry

Business, Normal

The National, Thursday October 10th, 2013

 THE PNG government plans to seek technical know-how from Taiwan to develop the country’s manufacturing sector, Secretary for Trade, Commerce and Industry John Andrias said. 

Andrias said this in his address during the welcome reception for the Taiwanese trade fair delegation in Port Moresby on Monday. 

He said with PNG recognising Taiwan as an economy, the trade fair was an opportunity for business organisations from Taipei and Papua New Guinea to explore opportunities for mutual benefit.

Andrias said the Government was encouraging more Papua New Guineans to become entrepreneurs.

He said the Department of Trade Commerce and Industry was working on an industrial development plan that would provide road map for PNG to become exporter of finished products instead of raw materials and semi-processed goods.

“The industrial sector contributes only 9% of the gross domestic product (GDP) and this plan would provide strategies that would ensure the manufacturing sector become one of the main pillars for long-term economic growth,” Andrias said. 

“The problem is that PNG, as a developing economy lacked, technical know-how, technology and capital. 

“I believe that it is possible to use Taiwanese technology, technical know-how and capital to transform PNG resources that meets international standards.”