Papua New Guinea is still struggling to access Chinese Markets with its products in trade, while China continues to benefit under an unbalanced trade deal. Minister for Trade, Commerce and Industry, Richard Maru, highlighted this to his Chinese counterpart Gao Hucheng, on the margins of bilateral talks between the two, at the APEC Ministers Responsible for Trade
Meeting in Qingdao, China, recently. Mr, Maru said, despite many Chinese products flooding the P-N-G market, their increased investments over the last few years and companies securing all the major National Government supply contracts, the country is still not benefiting much. He said the total value of trade between the two countries stood at more than 3 thousand 9 hundred million kina in 2012, with a trade surplus of more than one thousand 500 million kina in favour of China, because China has easy access to the PNG Market compared to PNG except for the export of a few raw materials out of the country. Minister Maru said the trade imbalance is partly attributed to China's application of stringent measures on imports which makes it difficult for PNG's products to enter their markets. The Minister said in order to address this trade imbalance, the two countries must come up with a Trade and Investment Agreement which will give access to PNG products especially in fisheries and agricultural goods, which the country has a competitive advantage over. Comments are closed.
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