Polye signs Korean deal

National, Normal

The National, Monday, June 6th 2011

KOREAN Airlines could begin services between Seoul and Port Moresby later this year.
This follows Foreign Affairs and Immigration Minister Don Polye’s successful meeting with his counterpart from South Korea, Kim Sung-hwain.
They discussed a number of bilateral issues and signed an Investment Promotion Protection Arrangement.
Polye is happy with the outcome and the Papua New Guinea  government will sign that arrangement later in September.
They agreed to an Air Service Agreement will be finalised and signed in September.
That will allow South Korea to establish flights between the two countries.
A proposal for the establishment of joint committee on minerals and energy was presented by Kim.
Polye has given directives to officials and will be linking the projects with relevant ministers in the mineral and energy sector.
Polye asked Seoul to invest in transport, agriculture and tourism here.
He specifically asked Kim about the possibility of funding the Malalaua to Aseki and Kaintiba roads to connect to Wau-Bulolo in Morobe.
Polye has asked for the project to be done under an integrated green technology approach.
He said South Korea had agreed in principle for any Seoul investors to PNG to partner with Papua New Guinean businessmen and businesswomen.
He said the PNG government was satisfied with the bilateral arrangements with South Korea.
PNG’s trade with Seoul has been in PNG’s favour as trade has increased from US$3 million in 1976 to US$ 250 million in 2009.
Polye said this meant Papua New Guinea was exporting more and importing less from South Korea.
“And in this arrangement, we want to expand in future,” Polye said.