Photo credit: International Trade and Investment Ministry of Papua New Guinea Facebook Page
Minister for International Trade and Investment, Hon. Richard Maru has highly commended Prime Minister James Marape and the NEC for the very bold and visionary decision to set up a Mission in Thailand amongst the four new missions to be established by the Marape-Rosso Government. The other three are Israel, UAE and Switzerland.
“In my view after visiting Thailand last week on a Trade and Investment Mission, the decision by the Marape-Rosso Government to set up a Mission in Thailand this year as part of our walk across Asia strategy will in time prove to be one of the best decisions taken by any Government since Independence. My delegation marveled at the sheer size and achievements of Thai industries to become world leaders and pacesetters in industries like the fish processing industry, chicken processing industry, starch from cassava, rice and sugar. They used to be third world nation producing agriculture raw materials like PNG is still doing 47 years after Independence while Thailand has transformed to become world leaders in food processing and exports,” said Minister Maru.
Thailand has 40 fish processing plants and is tuna capital of the world with no local fishing industry. They are able to buy and become the leading world supplier of finished fishing products from fish supplied to them from fishing grounds all over the world including Papua New Guinea (PNG).
“We visited and found out that they are major suppliers of fresh and cooked chicken products to Japan, US and the European Union after meeting Japan, US and European Union quality processing standards and accreditation. Thailand is now the world’s leading cassava starch supplier and also sugar. It’s unbelievable they also supply finished products only and do not export raw materials or semi processed agriculture products like PNG does,” said Minister Maru.
“During our visit, leading Thai companies have expressed interest to invest in Papua New Guinea if we are able to provide land, electricity, good roads, wharves and all the enabling infrastructure and incentives to come and set up world class industries to mainly assist them to meet growing world demand for their quality products for countries in the ASEAN region like Indonesia, Australia and our own domestic market demand and Indo Pacific Region. By building a strong trade and investment relationship with the Government of Thailand, the private sector of Thailand, targeting potential investors and the people to people ties with Thailand, the Thai investors can help us develop our vast agriculture, fisheries and manufacturing industries into world class industries in our country,” said Minister Maru.
“We were amazed when they told us that Japan has 30, 000 companies operating in Thailand and they employ over 1 million people from Myanmar to assist with low-cost labor in their manufacturing industry, to ensure they continue to be a low-cost producer of goods and services for the world. They have developed their tourism industry and today enjoy an influx of 40 million tourists a year. Thailand has moved to industrialization starting with manufacturing first all their agriculture products and now they have moved to automobile and other hi-tech industries,” said Minister Maru.
“I was inspired by the trip because I envision if we follow the same path as Thailand and the same trajectory, our PNG economy can be transformed over the next 20 years if we develop a long and enduring partnership with Thailand and benefit from their business models, capital and technology, and their leading global brands and reputation and access their well-established global markets,” Minister Maru added.
Minister Maru said PNG can also benefit from a strong trade and investment partnership with Thailand in areas like tourism development and developing Special Economic Zones (SEZs).
“We found out from our visit to the Industrial Estates Authority of Thailand that is equivalent to our new Special Economic Authority that over the last 30 years they have built 4922 factories, built 4 international ports, accumulated over US$200 billion in Special Economic Zones and created directly 932,258 new jobs,” said Minister Maru.
“The Marape-Rosso Government’s vision to anchor our future by building Special Economic Zones to drive economic growth, large scale mass employment opportunities for our people and create vast wealth creation opportunities for our people and our country is the right way to go based on global experience from countries like Thailand so opening our new Embassy this year in Thailand has to be given our highest priority,” said Minister Maru.
“I am very inspired, and I have no doubt that cementing a trade and investment relationship with Thailand on a Prime Minister to Prime Minister level with a State visit this year by our Prime Minister and the opening of our new Embassy in Thailand will be one of the greatest contribution the Marape led Government will do to secure an even brighter and better future for our beautiful country,” said Minister Maru.
Meanwhile, the first large scale investor that the Delegation met and have invited to come to explore investment opportunities in PNG are scheduled to arrive in Port Moresby early next month.
“My Ministry and the Department will work to invite more Thai investors to come and invest in Papua New Guinea as a major focus of Marape-Rosso Government’s economic growth initiative,” said Minister Maru.
