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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