International Trade and Investment Minister Richard Maru says leading APEC economies are all talking about carbon trade.
He says this is one area that Papua New Guinea must tap into.
“Almost all the top leading economies have mentioned the intention to find ways and expand into the trading of carbon as green revolution is an agenda during the summit in Thailand”, said Minister Maru.
Minister Maru said Papua New Guinea boasts a huge abundance of carbon and trading will be of importance.
“We must not let this opportunity come and go. We must further talk with other APEC nations to finalize agreements and a way forward,” said Maru.
He said not just carbon trading but also to find alternate ways to sustain and replace the carbon that is taken out of our forests and land.
Minister Maru said the APEC Summit in Bangkok has opened more conversation for Papua New Guinea to trade with other APEC nations.
The Trade and Investment Minister said now is the time for PNG to rise and be an active economy in the region.
Meanwhile, Minister Maru said the Association of Southeast Asian Nations (ASEAN) has offered to assist Papua New Guinea with capacity building in the area of international trade based on its vast experience in developing the ASEAN Trade Free Area within its Member States.
This follows Minister Maru’s meeting with the Secretary-General of ASEAN, Dato Lim Jock Hoi during the APEC Meetings.
“ASEAN has offered to run a five-day workshop on Free Trade Agreement negotiations in Port Moresby early next year,” said Minister Maru.
Maru added that ASEAN will especially train PNG staff in the negotiation of each of the three chapters of the Trade Agreement- trade in goods, trade in services, and investments.
They will also include recent developments in green growth and the provision of technical assistance, he added.
“This is a key part of our strategy for PNG to develop our capacity to enter into trade negotiations with ASEAN member states like Indonesia and the Philippines, and even China,” said Minister Maru.
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