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APEC 2022

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Maru: Carbon Trade Opportunity High

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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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APEC Economies Keen To Assist PNG

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Prime Minister James Marape says talks with other leading APEC economies have seen keen interest in further development of PNG’s resources.

PM Marape made these remarks upon his arrival in Port Moresby from the APEC Summit in Bangkok Thailand.

“I want to let the country know that Papua New Guinea is on the verge of expanding more bilateral agreements in trade and business. There is an opportunity never seen in the past APEC meetings”, said PM Marape.

“We not only talking about trade and business but also in energy generation and its sustainability,” said the Prime Minister.

He added that more leading APEC economies now understood the development agenda of the Marape-Rosso Government. “We are bringing to the table our challenges and possible solutions to improve our local economy”, PM said.

The Prime Minister said talks with the United States concluded with a keen interest in developing PNG’s fisheries sector. “We are not looking at just exporting our products but allowing for downstream processing”, said PM Marape.

He further said that his bilateral meeting with China was also welcomed by the Chinese President with China committing to buy and produce in Papua New Guinea.

“I am satisfied that our attendance at the APEC Summit in Bangkok has achieved more. The Government will continue its intervention programs to support people and Provincial Governments to ensure benefits reach rural communities,” said Marape.

The Prime Minister added that France, Canada, and Japan including close neighbors Australia and New Zealand have also pledged to extend more cooperation in business and trade.

PM Marape concluded his reflection following the APEC Summit that people must now assist by tapping into agriculture and business.

“I urged all citizens to get their hands dirty and contribute by farming their land. If a family can produce more, this means more income and adds value to the growth of our economy,” said PM Marape.

Meanwhile, the Prime Minister said unlike before, there are more opportunities for Papua New Guinea to access markets in APEC member countries.

“I can guarantee you all that there is more market available for our products, it’s our we can convert to finished products and trade with other nations,” said Marape.

The Prime Minister said more dialogue with other APEC economies will eventuate in 2023 to bind trade and business agreements so we can develop our people and nation.

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PM jets off for APEC in Thailand

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Prime Minister James Marape says Papua New Guinea will maintain all bilateral agreements and cooperation with other 20 member countries during the 2022 APEC Summit in Bangkok, Thailand.

The Prime Minister reiterated that meetings with close development partners like New Zealand, Australia, China, Canada and the United States will be paramount.

PM Marape said the previous APEC meeting has seen maturity and understanding between member countries.

“We will bring our agendas to the table, we are now emphasizing on two agendas, down streaming and exporting finished products to the world markets,” said PM Marape.

He added that Papua New Guinea boast vast natural resources and will ensure talks open more dialogue with world leaders to support grow the local economy.

The Prime Minister said the APEC Summit will open doors for Papua New Guinea. He maintained that he will be attending all the meetings including other State Ministers and beauracrats.

“It’s a very significant meeting for us. APEC is where world leaders meet and discuss for business and trade talks, ” said PM Marape.

The Prime Minister also announced that Deputy Prime Minister John Rosso will be incharge of the country for the next 10 days.

“I leave the country in the good hands of our Deputy Prime Minister and will return before Parliament resumes for the November session to hand down the 2023 national budget, ” said PM Marape.

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