PRIME MINISTER TO LAUNCH PNG-INDONESIA BUSINESS COUNCIL

PREPARATIONS are underway for the launch of the Papua New Guinea (PNG)- Indonesia Business Council Inc tomorrow by the Prime Minister James Marape at the National Parliament’s State Function room.

According to the Minister for International Trade and Investment, Richard Maru, for the last 49 years; PNG’s focus has been on border and security talks annually.

The launching of PNG- Indonesia Business Council is the start of the shift in focus to the commercial dimension of our relationship with Indonesia.

It is time PNG develops a strong, deep, and robust relationship with Indonesia in realizing the potential of both countries in trade and investment.

Minister Maru further adds; PNG and Indonesia are close neighbors connected by land border but have not developed the trade and investment relationship between the two countries through any structured formal relationships.

He adds that PNG does not have a major Indonesian investor in the country when they are world leaders in many sectors.

They have huge market and have many companies who can invest in PNG but PNG has never leveraged the closeness of this relationship by learning from their success and bringing their companies to invest in PNG.

PNG has immense potential with abundant natural resources in mining, petroleum, agriculture, fisheries, forestry and services for downstream processing value addition respectively.

Maru says they are hoping to secure the first K1.5 billion Indonesian investment in the country in the coming weeks.