Photo credit: The Statesmen
According to India's High Commissioner Inbasekar Sundaramamurthi, Papua New Guinea exports to India five times more than India does to PNG.
“This means the balance of trade is in (PNG’s) favour,” he said.
According to Sundaramamurthi, India and PNG had bilateral trade of about $427 million (K1,471.13 million).
Around US$70 million (K241.168 million) is what India exports to PNG, and US$357 million is what PNG imports from India (K1,229.96 million).
“But we are okay with that (trade) because as a country in the Pacific, PNG needs all the support.
“So we buy commodities, raw materials and minerals.
“We are also ready to transfer technology to you through agriculture.”
Sundaramamurthi explained that India “understand the sentiments because Prime Minister James Marape wants jobs to remain here and downstream processing to happen in the country”.
“So we are all ready to support that,” he said.
“In other countries, you have to move beyond just selling commodities.
“We are ready to buy commodities but we are also ready to teach you technology, and capacity building,” Sundaramamurthi said.
According to him, India exports PNG textiles, machinery, food, medicines, surgical supplies, and rubber.
However, the exports from India travel through China, Malaysia, and possibly Australia to reach PNG.
“Which means cost becomes higher,” he said.
“We could avoid the middlemen.PNG exports to India nickel, copper, pearl, wood, wooden articles and cocoa.”
Reference: Moi, Clarissa. The National (5 September 2022). “Envoy: India ready to help PNG”.
