Thais, PNG agree to double trade

 PAPUA New Guinea and Thailand have agreed to double the nations’ bilateral trade to US$720 million (K1.82 billion) by 2017.

Prime Minister Peter O’Neill and his Thai counterpart Prayut Chan-o-cha met on Monday on sidelines of the 22nd Asia-Pacific Economic Cooperation summit in Beijing.  

Thailand is ready to sign agreements on fisheries cooperation and ending tax duplication.

Thai government spokesman Yongyuth Mayalarp said the leaders discussed economic cooperation.

He added Thailand was ready to promote bilateral cooperation on trade, investment, fishery, energy and development. 

Thailand is prepared to end tax duplication, negotiate mutual investment promotion and protection and will sign a pact on fishery cooperation, as already agreed.

O’Neill added Thailand has significant experience in sectors where Papua New Guinea is expanding into greater export markets.

“The relationship between Thailand and PNG continues to grow with expanding trade and investment, and cooperation in areas like agriculture.”