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Climate Change

New Climate Change Regulation to Improve Carbon Trading

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Papua New Guinea has some of the largest areas of forest in the world, but measures to conserve the environment through the sale of carbon credits has been unfair for local land owners in the country.

Recent media reports and investigations have uncovered that most in rural areas in Papua New Guinea have little to no knowledge of the complexity of carbon credits and Carbon trading. In turn they are being taken advantage of by those in the business.

Debra Sungi, the acting General Manager Monitoring, Reporting and Verification (MRV) at the Climate Change Development Authority, says the absence of proper regulatory framework has allowed for the exploitation of landowners in rural Papua New Guinea.

(Left) Debra Sungi – Acting General Manager Monitoring, Reporting and Verification (MRV), Climate Change Development Authority and (Center) CCDA Acting Managing Director William Lakain attending a stakeholders meeting on Friday.

A moratorium on the PNG REDD+ Voluntary Carbon Market Project has the Climate Change Development Authority and stake holders pushing for the Climate Change (Management) (Carbon Market) Regulation 2023 to be approved by the Government.

The document was rigorously debated since 2022 and is the answer to the problem. It will aid in the process of carbon emissions trading in domestic and international approach. Guided by international rules under the Conference of Parties COP 26 Article 6.

Carbon Trade
Carbon Trade
Carbon Trade
CCDA and Stake holders meeting held at Hilton Hotel on the 18th of this month.

A stake holders meeting was held at the Hilton Hotel in Port Moresby on Friday to debate and present the final draft of the Climate Change (Management) (Carbon Markets) Regulation 2023. And also to Validate the Climate Change (Management) (Carbon Markets) Regulation 2023.

The amendment of the regulation has gone into the second stage and as the national designated authority responsible for Carbon Markets, CCDA is certain that the regulation will help make sure maximum benefit goes to the land owners.

Related: https://insidepng.com/research-and-conservation-of-pngs-biodiversity/

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News

Maru Announces Trade Commission Service

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The Government has made a decision to establish for the first time, The National Trade Commission Service in eight countries this year.

International Trade and Investment minister Richard Maru, made this announcement recently.

Minister Maru said PNG’s Trade Missions will be equivalent to Austrade of Australia, New Zealand Trade Enterprise or Canadian Trade Commission Service, where trade representatives will have their own establishments either in foreign Missions or stand alone offices, or through the appointment of Trade commissioners throughout the world starting with eight countries.

Maru said the primary responsibility of Trade commissioners, is to look for Markets for PNG goods, and to promote Trade investment opportunities in PNG.

“We are grateful for the support we have received from the Prime Minister and Cabinet, and is very timely as we prepare for the historic SEZ summit, which will be opened by the Prime Minister this Sunday,” Minister Maru said.

The first 8 Trade Commissions to be established are: Shanghai – China, Brisbane – Australia, Bangkok – Thailand, Jakarta – Indonesia, Brussels – European Union, Dubai – United Arab Emirates, Manila – Philippines and Singapore.

“The Ministry is extremely grateful that a number of SOEs have expressed interest to fund a number of Trade Commissions,” Maru added.

Maru said, in terms of priority, the first Trade Commission will be established in Shanghai, China, as China is offering to buy PNG’s LNG gas and other mining and petroleum products, including fish, logs and other goods.

“I finally want to commend the Prime Minister for his bold decision as a government to introduce for the first time the Trade Commission Service, as a key strategy to find new Markets for PNG and bring in more foreign direct investment, which is critical to build a more robust  inclusive and sustainable economy,” Minister Maru said.

The Department of International Trade and Investment will be advertising for applicants to fill the positions of Trade Commissioners in the first 8 Trade Missions.

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Foreign Trade

PNG Looks East for Investments

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International Trade and Investment Minister, Richard Maru, has described his recent ventures overseas as very successful after meeting potential investors in Japan, Singapore and the Philippines.

In Japan, Minister Maru met with Dr Shoichi Kobayashi, the CEO and Chairman of Japan Development Institute (JDI), one of Japan’s biggest industrial development agencies.

JDI has helped developed Special Economic Zones (SEZ) in 70 countries, including China, Indonesia and the Philippines and has shown interest in developing an SEZ Master Plan for PNG.

“All over the world, SEZ developments have either failed or have been very successful,”

“So, getting the expertise of JDI at the infant stages of our SEZ developments is very critical to ensure we develop our planned SEZs,” Minister Maru said.

A team from JDI is expected to arrive by the end of the month for a 10-day trip around the country to begin work on the proposed Master Plan.

Minister Maru also met with Singapore’s Trade and Industry Minister Kim Yong Gan where they discussed the possibilities of creating PNG’s 1st ever Trade Agreement with Singapore. A proposed Trade Fair was also in discussion.

“We want the ASEAN member states to be the heart and soul of our future in terms of trade and investment because Asia is where the growth and future I and we need to be located right in the heart of Asia, which is Singapore,” Minister Maru said.

In the Philippines, Minister Maru met with Alfredo Pascal, the Secretary for the Department of Trade and Industry. Creating a formalized trade link between the two countries was discussed.

Downstream processing and commercial rice farming were also discussed with Minister Maru meeting three potential large-scale rice farming companies.

“PNG needs to identify up to 90,000 hectares of land to grow rice in order to produce the rice to feed our own population and to export the surplus back to the Philippines,”

“We will be working very closely with the Central Province Governor to assist us in identifying land in Central Province to grow rice on a large scale,” Maru said.

Talks on supplying LNG to the Philippines and downstream processing of crude coconut oil were also discussed.

“All in all, Japan, Singapore and the Philippines are ready to step up in their relationships with us in terms of trade and investment. Our plans to establish Trade Missions in these countries will go a long way in enhancing this relationship,” Minister Maru said.

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Foreign Trade

Strengthening Ties with Japan

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Prime Minister James Marape met with the Prime Minister of Japan, Fumio Kishida, before attending the state funeral of Japan’s former Prime Minister Shinzo Abe.

PM Marape was accompanied by International Trade and Investment Minister, Richard Maru and East Sepik Governor, Allan Bird.

“Today was just a short, one-day visit to Japan for me, but very important in consolidating relations between our two countries,”

“There are 191 world leaders here today to attend the State Funeral of the late Shinzo Abe, and for PNG to have been accorded the honour of meeting Japanese Prime Minister Kishida is very special,” the PM said.

The Prime Minister also met with executives of Japan’s major energy companies with discussions centred around the LNG project and downstream processing which the Government is pushing for PNG to be more active in.

“Prime Minister Kishida, during our discussions, highlighted Japan’s need for energy security as well as the need for trade between our two countries to grow.”

Japan through its JX Nippon Oil and Gas Company is a joint venture with Nippon PNG LNG, which has interests in the PNG LNG Project. Since the 1st shipment, PNG has supplied approximately a 7.9million tonnes of liquefied natural gas every year to the world market, and Japan is one country that PNG supplies.

Japan is also involved in other major projects like the K692million Nadzab Airport Redevelopment Project which is currently in its construction phase. The project is captured under Japan’s Economic Corporation program which aims to improve PNG’s economy and broaden internationalization.

“Prime Minister Kishida highlighted the fact that PNG is an important bilateral partner of Japan,” said Marape.

Prime Minister Marape concluded his meeting by assuring the Japanese Prime Minister that outstanding trade treaties between the two countries will resume and PNG will continue to assist Japan where necessary, especially in its energy security needs.

The Prime Minister left for the United States where he will attend the Pacific Islands Summit in Washington DC.

Prime Minister James Marape and Japanese Prime Minister Fumio Kishida during their meeting this morning in Tokyo. Picture by PM’s Department
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Business

PNG Opens Seafood Facility in Singapore

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Papua New Guinea has opened its first-ever seafood holding facility in Singapore.

Fisheries and Marine Resources Minister, Jelta Wong was in Singapore today (15th September) to officially open the facility and described it as a great opportunity for the country to benefit.

“The future looks promising already and I must congratulate NFA for the foresight in putting together and supporting this innovative marketing arrangement,”

“I commend the NFA for finding and creating new and greater market opportunities for our people to access and benefit from,” Minister Wong said.

As PNG looks on to benefit from the growing Asian Market, Minister Wong said the Government is focused on strengthening trade and investment by working closely with foreign missions and development partners in the region.
“What we have done here in Singapore is to look at tapping the massive Chinese seafood market that PNG already has a fisheries market access agreement with,” said the Minister.

The facility will receive and store live mud crabs, lobsters, prawns and other inshore coastal fisheries products before they can be sold or distributed to buyers and retailers in Singapore and the neighbouring South-East Asian markets.

Local fisheries farms like the recently opened mud crab fattening farm in Abau, Central Province and others are targeted to benefit immensely from this initiative.

“It is pleasing to further note that, once the facility goes into full operation, it will be receiving live mud crab and seafood products from our people at the village or community level – such as the live mud crab fattening project that was recently launched in Gavuone village in Abau District,”

“It will also be receiving prawns caught by our village people within the 3mile zone in the Gulf of Papua, including other areas that are now being targeted by the NFA in promoting coastal fisheries development with more and more of our people participating directly,” Minister Wong said.

The demand for seafood was evident when an order of 500kg live mud crab was secured soon after the opening of the Zavath Seafoods facility.

Minister Wong and NFA delegates inspecting the storage facility. Picture by NFA Media
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