PNG to set up trade office in China

CHINA’S Shenzhen provincial government has reached an agreement with the Government to set up a trade office in Shenzhen, according to International Trade and Investment Minister Richard Maru.
Maru explained that an agreement was made for a new PNG trade mission to be in an exclusive office space in the province and expose both county’s private sectors to the other’s goods and products.
“To have a trade mission in China is a very historic decision and I am very pleased that it will be in Shenzhen,” he said.
“We want our trade mission to be located in the heart of this city that is evolving.
“Shenzhen and Port Moresby have a sister city relationship so it makes sense for us to be located here as it would consolidate this relationship.”
According to Maru, Shenzhen was one of the best performing and fastest growing regions in China and the city was a testament to that having transformed itself from little more than a small fishing village into an economic powerhouse in just over 40 years.
Shenzhen’s gross domestic product exceeded US$400 billion (about K1.4 trillion) in 2022.
“The future of our relationship with China is on trade and investment, we recognise that China is the economic powerhouse of the world and we have a lot to learn from their experience, we know that China will continue to be a big market for our goods with trade currently in our favour,” said Maru.