CHINESE Ambassador to Papua New Guinea His Excellency Yang Xiaoguang paid a courtesy call on the Finance Minister Hon. Miki Kaeok today in Port Moresby discussing matters of national importance between the two countries going forward.
His Excellency Xiaoguang highlighted that the annual trade between the Republic of China and the Independent State of Papua New Guinea was worth K13 billion from January – August making China the largest trading partner with PNG.
He mentioned that the PNG- China Free Trade Agreement (FTA) Joint Feasibility Study Report spearheaded by the Minister for International Trade and Investment Hon. Richard Maru is expected to be delivered towards the end of this month signifying the way forward for a possible Free Trade Agreement with the two countries.
His Excellency Xiaoguang assured the government of China’s continuous assistance in the progressive development of the country emphasizing more on China’s commitment to assist PNG in the economic growth of the country.
On behalf of the government, Finance Minister Hon. Miki Kaeok acknowledged the visit of His Excellency Xiaoguang and congratulated his appointment as the Chinese Ambassador to PNG three months ago after moving in from England.
Minister Kaeok assured the Chinese government on PNG’s strong stand on the ONE CHINA Policy and deeply acknowledged the strong diplomatic relations between the two countries going forward.
Minister Kaeok highlighted that the Republic of China was the biggest trading partner with PNG buying the largest portion of the country’s Liquidified Natural Gas (LNG) exports including other minerals and cash crops accordingly.
He sincerely acknowledged the continuous support of the Chinese government in the general infrastructural development of the country adding that China played a pivotal role in the infrastructural development of Port Moresby, Lae, Mount Hagen and the other centers of the country all throughout.
Minister Kaeok is certain of the realization of a Free Trade Agreement between the two countries as Minister for International Trade and Investment Hon. Richard Maru assured the government earlier that the feasibility study will be completed soon.
