PNG shifts focus to Indonesia for trade, says Maru

The National Business

By SHIRLEY MAULUDU
PAPUA NEW GUINEA is shifting to Asia, with specific focus on Indonesia in terms of trade, International Trade and Investment Minister Richard Maru says.
Maru yesterday said Indonesia was a US$1.1 trillion (K3.78 trillion) economy.
“We are shifting to Asia and we will be putting in place a trade agreement with Indonesia,” he said. “Indonesia’s economy is growing at 5 per cent per annum.
“In 2050, Indonesia will be a US$5 trillion (K17.2 trillion) economy.
“This is a huge potential for PNG to take advantage of.
“Therefore, one of my priorities is to conclude a free trade agreement with Indonesia during my term as minister for international trade and investment.”
Maru also highlighted other priority areas during hand over of the Trade Ministry from Soroi Eoe yesterday, which included;

  • DEEPENING trade and investment relationship with Australia;
  • WORKING on a possible trade agreement with China;
  • ESTABLISHING trade missions in countries that PNG has specific market interest;
  • DEVELOPING the Pacific Marine Industrial Zone;
  • INTERNAL structure of newly-created International Trade and Investment Ministry; and,
  • ENCOURAGING private sector investment in agriculture sector.