TREASURER Ian Ling-Stuckey has indicated that the government is preparing to secure an additional cheaper funding from China.
He said this after meeting with Chinese Ambassador, His Excellency Zeng Fanhua, along with his key officials last week.
“There has also been a follow-up meeting between our staff over the week to further refine details of the visit,” Treasurer Ling-Stuckey said.
He said meetings become more productive if the hard work put in beforehand with clear timetables, and clear understandings of items that will be covered.
Ling-Stuckey said the same early hard work and preparations are required to ensure overseas meetings are as productive as possible.
“This was the clear experience witnessed, when travelling with Prime Minister Marape to Washington in the US last week” he said.
“My key goals during this visit are to work as part of the Government team to strengthen our co-operative relations with such a key partner and friend, the Government of China.
“The focus of my work is to secure additional, cheaper funding for PNG.
“Chinese interest rates are currently below those in the US and Australia, and even from many of our multilateral partners.
“I look forward to meetings with China’s Export Credit Bank (EXIM) along with the Asian Infrastructure Investment Bank (AIIB).”
During the visit, the Treasurer said he will also explore ways PNG can build stronger institutional linkages, such as with the Chinese Treasury.
“China is our second largest trading partner according to United Nation’s data (with Australia the highest, followed by Japan).
“Personally, three of my grandparents come from China, and it will be good to visit again after a gap of nearly two decades.
“We are putting in the work to make this visit as productive as possible,” the Treasurer stated.
