Photo credit: China Embassy in PNG - On 2 November, Chinese Ambassador Zeng Fanhua held a virtual meeting with Minister for State Enterprises William Duma. Both sides exchanged views on further deepening practical cooperation between China and PNG.
The Chinese ambassador to PNG, Fanhua Zeng, said the process of hastening a free trade agreement between the two countries has begun.
According to Fanhua, this would assure that the two nations' commercial relations would improve following the Coronavirus (Covid-19) outbreak. PNG exports roughly 300 million tonnes of liquefied natural gas to China each year, as well as other goods including lumber.
“It is important that even in this time we give some impetus to our trade relations,” Fanhua said.
“For example, we want to have this free trade agreement with PNG. It’s a process we have to negotiate but we want to accelerate it (so that) when the pandemic is over, we can have (better) trade relations.
“PNG is rich in resources like gas, oil, timber and fisheries and China has a big market.
“So we can cooperate very closely and both countries can benefit from it.”
Because of climate change, on timber, he said, “we have to do something in the area of forestation”.
“We know that PNG wants to do something in that area so we can cooperate not in direct import and exports of timbers but we can cooperate in the production (of timber) we can export to China.
“There is a big market in China and the products of PNG are very important and very good.
“I see great potentials in trade and economic relations between our two countries.”
Reference. The National (10 November 2021). “China, PNG ‘fast-tracking’ deal”
