Papua New Guinea, according to Minister for Foreign Affairs and International Trade Soroi Eoe, has enormous potential to grow into a first-class economy in the Asia-Pacific.
During the introduction of the National Trade Office's (NTO) business plan 2021-2025, he stated that PNG has a lively and expanding population that may generate enough demand for local goods and services.
“Our proximity with Asia, the Pacific and Australia, positions us as an attractive trading partner.
“We, therefore, have to leverage such opportunities for the development of our country.”
He gave the example of the Ihu Special Economic Zone in the Gulf's Kikori district, which received K100 million in government support.
PNG will be able to become an "internationally competitive export-driven economy founded on and assisted by an increasing and efficient domestic market," according to the corporate strategy.
“I urge all trade actors, regulators, the private sectors and all other departments and institutions of government to support and work with NTO,” Eoe said.
Reference:
The National (15 July 2021). “PNG has top-class trade potential: Eoe”.
