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Prime Minister James Marape is back in the country after a five-day visit to Hong Kong then onto China.
Arriving in Port Moresby, Marape said he has done his part and the responsibility is now on the people of Papua New Guinea to meet the growing demands of the Chinese market.

China Visit

“I have done my job, and the onus is now on our ministries, departments, public servants and people to start producing more for the huge Chinese market,” Marape said.

Marape, who sees himself as the No. 1 diplomat and salesman for his country, announced securing partnerships with four large Chinese companies for downstream processing of Papua New Guinea’s resources.

“China understands our focus on promoting trade and investment, as exemplified during my meetings with Premier Li and President Xi, and they gave their full support towards downstream processing of our agriculture, forest, and fisheries resources,” said Marape”

While in Hong Kong, Marape met and spoke with various Chinese investors including John Lee, the Chief Executive of the Hong Kong Special Administrative Region of the Republic of China.
Marape claims his engagements in high-level meetings is aimed at strengthening the economic relationship between Papua New Guinea and China.

China Visit

After attending the inaugural Papua New Guinea-Asia Investment Conference early this week, Marape flew to Bejing where he met with Premier Li Qiang on Monday evening and then had an audience with President Xi Jinping on Tuesday morning.

He also participated in the Third Belt and Road Forum for International Development, which took place on Tuesday and Wednesday this week.

Related: https://insidepng.com/marape-continues-international-travels/

The merchandise trade between Papua New Guinea and Hong Kong Special Administration Region of China has recorded a substantial increase of 34 per cent in the past three years, from US$65 million in 2019 to US$87 million in 2022.

This information was revealed to PNG Prime Minister, James Marape following a brief meeting between Marape and Chief Executive of Hong Kong Special Administration Region in China, John Lee.

Hong Kong

The meeting resulted in an invitation issued for companies listed on the Papua New Guinea Stock Exchange (PNGX) to also be dual listed on the Hong Kong Stock Exchange, Hang Seng Index (HSI).

Marape said their discussions on Sunday (15th October 2023) included Papua New Guinean companies having access to capital market in HKSAR, access to technologies and other capabilities that the Special Administrative Region (SAR) has to offer in all areas, including the public service.

John Lee welcomed Marape’s visit to Hong Kong, noting that Hong Kong and Papua New Guinea have been maintaining a close relationship in business despite the challenges brought on by COVID-19 pandemic.

Papua New Guinea was the first Pacific Island Nation to sign a Memorandum of Understanding with China for co-operation on the Belt and Road Initiative in 2018.

Hence, more Papua New Guinean enterprises have been encouraged to leverage Hong Kong’s institutional strengths, such as the commitment to the Rule of Law, the free flow of information and capital, a simple and competitive tax system, with a view to seizing opportunities brought by the Belt and Road Initiative.

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