Taiwan keen on PNG

Business, Normal

The National, Tuesday November 5th, 2013


TAIWAN’S private sector is eager to invest in areas such as information technology, solar energy and wood works, Trade Commerce and Industry Minister Richard Maru said.

He said yesterday Taiwan investors were keen to push trade investment plans with PNG following a recent trade mission in the country.

During a visit to Taiwan last week, Maru found out that small-to-medium enterprises (SMEs) contributed 98% of the country’s gross domestic product (GDP) and provided 70% of employment to 23 million people.

He said: “PNG is keen to see Taiwanese investors take advantage of investment opportunities in the country on the back of strong economic growth in the last 10 years and for the near future.”

Maru noted that sometime ago, both countries signed a memorandum of understanding (MoU) governing trade relationships in various areas.

However, since the signing, there had been little or no real effort to ensure that such relationship was maintained.

“Taiwan had an MoU with the government to cooperate in areas of trade and investment. 

“PNG government has one China policy, which we will continue to pursue. 

“However, for us, Taiwan is an integral part of mainland China, but that does not mean we cannot trade and do business with Taiwan.”

Maru had reiterated the need for the PNG government to set up a trade office in Taipei.

Meanwhile, Taiwan had asked PNG to consider approving visa on arrival arrangement for Taiwanese investors and travellers to the country, he said.

Maru said he would be bringing few key recommendations to the cabinet for the National Executive Council to consider.

These included the double tax treaty, investment promotion protection agreement and a trade office in Taipei.