International Trade

Talks on Direct Flights between PNG and UAE

By Inside PNG 19/09/2023

Ambassador Designate of the United Arab Emirates to PNG, Jamal Abdullah Alsuwaidi says the UAE government is interested to pursue a direct airline operation, between PNG and UAE.

The UAE ambassador to PNG arrived in Port Moresby yesterday and presented a Letter of Credence to Papua New Guinea Governor General, Grand Chief, Sir Bob Dadae this morning.

A credential ceremony was held at the Government House, to mark this occasion where Sir Bob Dadae received the Letter of Credence.

At the credential ceremony, ambassador Alsuwaidi said the UAE government is particularly interested in Papua New Guinea’s participation in the COP28 UN Climate Change Conference to be held in Dubai in December.

He added that the UAE Government would assist to ensure PNG’s full participation in the Conference.

Ambassador Alsuwaidi had expressed his personal gratitude and appreciation for the warm hospitality accorded to him since arriving in Port Moresby.

He described his experience as a testament to the importance Papua New Guinea placed on its relations with the UAE.

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All set to host SEZ Summit

By Rayon Lakingu 06/05/2023

The momentum to host the first ever historical Special Economic Zone (SEZ) Summit has picked up as the country plays host to this very important international summit, which will be opened by Prime Minister James Marape on Sunday.

The summit is hosted by the Marape Government through the Department of International Trade and Investment.

In a media conference on Thursday, International Trade and Investment minister, Richard Maru gave an update of the summit.

“On the first day of the summit on Monday 08 May 2023, we will define and learn about countries who have gone into SEZ and the key factors that have made them to be successful and why many others have not succeeded, so PNG can learn from the experience of the countries who have succeeded,” Minister Maru said.

Maru said, SEZs have been here in PNG for over 30 years.

“Despite the legislation and the establishment of the Special Economic Zone Authority (SEZA), we still don’t
have a Policy, we don’t have a Master plan and Development plans for SEZA, and this summit now, will help us learn from other countries on how they have made theirs work,” the Minister said.

Maru said the Government has given one SEZ license to Paga Hill SEZ, and they are hoping that more SEZs will be identified and developed after the summit.

“We don’t want this summit to be another talk feast, we want to learn and start working on more and more SEZs as the key driver for economic growth,” the Minister added.

He said PNG has vast potential, and more SEZs are expected to be announced on Tuesday next week, when the summit ends.

“I would like to thank all the sponsors; Platinum sponsors Special Economic Zone Authority (SEZA) and the Ministry of International Trade and Investment, Gold sponsors; Department of National Planning, IHU SEZ, Kumul Consolidate Holdings, Kumul Petroleum Holdings Limited and National Fisheries Authority, Silver sponsors; PNG Ports, MRDC and Bronze Sponsor, Telikom PNG and Securities Commission,” Minister Maru
said.

Over 400 delegates all over the country including international speakers have paid their registration to attend.

Provincial governments and districts have shown immense support to participate and have also paid the registration for their representatives to participate in the summit.

“We are pleased to inform you that we have confirmed 7 international speakers from India, China, Indonesia, Japan, Philippines, Bangladesh and International Finance Corporation (IFC) who will be arriving on
Saturday 06 May 2023.”

“Local participating delegates from provinces and districts throughout Papua New Guinea will start arriving today (Friday),” Minister Maru said.

The delegates will have a unique opportunity to contribute to the SEZ Policy, the Master Plan, the Legal Framework and also listen to speeches not only from international speakers but also on potential SEZs in Papua New Guinea and important local SEZ development partners.

The Minister said booths for the summit sponsors will be setup inside the Stanley Hotel on the second floor, on Saturday
for the sponsors to showcase their brands and merchandises and it will also serve as information booths for participating delegates during the course of the summit.

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SEZ SUMMIT TO COMMENCE NEXT WEEK

By Rayon Lakingu 01/05/2023

The first ever Special Economic Zone summit is set to commence in Port Moresby next week, with more sponsors coming on board to support the event.

Last Friday the Ihu Special Economic Zone and the Department of National Planning and Monitoring came on board as Gold Sponsors, with cheques of K100 000 each, presented to the Minister for International Trade and Investment Richard Maru.

Vice minister for National Planning James Nomane said the Special Economic zone concept has been here for over 50 years, and it has proved to be a success in many countries.

The Ihu Special Economic Zone was established in 2017, in Kikori, Gulf Province.

Kikori MP Soroi Eoe said the discussions in this summit is vitally important as we can learn from the experience of others who have gone down this path.

Receiving the Cheques, Minister Maru thanked the government and sponsors for the overwhelming support given at a cost of K1.5 million to host the SEZ summit.

The Sponsors of the event include, Platinum sponsors: Special Economic Zone Authority and Ministry of International Trade and Investment.

Gold Sponsors: Department of National Planning and Monitoring, Ihu SEZ, Kumul Consolidate Holdings, Kumul Petroleum Holdings Limited and National Fisheries Authority.

Silver Sponsors: PNG Ports, Mineral Resources Development Company (MRDC), and Bronze Sponsor: Telikom PNG.

The Minister said over 400 delegates have already registered to attend this summit.

“We are pleased to inform you that we have confirmed 7 international speakers from India. China, Indonesia, Japan, Philippines, Bangladesh and International Finance Corporation who will be coming the share their country’s experience, and how SEZs have transformed their countries,” Maru said.

Maru said the delegates will also have the opportunity to contribute to the SEZ policy, The Master Plan, and Legal framework and listen to international speakers and potential SEZ’s in the country.

The potential Special Economic Zone in the country include the Central Processing Zone being developed, Kumul Manufacturing Holdings Limited, Rigo Rice SEZ, Ihu SEZ and Paga Hill SEZ.

“It will be an exiting summit and we are very grateful to all the sponsors without which we wouldn’t be able to host the summit,” Maru said.

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International Trade

Maru: Carbon Trade Opportunity High

By Inside PNG 23/11/2022

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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