Maru emphasizes on review of tariffs and need to protect manufacturing sector

In Papua New Guinea, tariffs on manufactured products have historically been subject to reduction programs, with some exceptions. 

Most tariffs on manufactured products are typically imposed as a percentage of the imported goods' value meaning the importer pays a fixed percentage of the total price of the imported goods. And these tariffs are charged by the government are paid by the importer of the goods. 

Minister for International Trade and Investment Richard Maru during the 8th Customs Business Consultative Forum held in Lae informed the participants- both private and public sector, on the review of tariffs and the need to protect the manufacturing sector.

Minister Maru said the average tariff on manufactured products is currently around 5% though some specific products may have higher or lower rates depending on whether they are raw, semi-processed, or fully processed. 

He further explained that protecting local manufacturing companies is important for several reasons, including fostering economic growth, creating jobs, reducing reliance on imports, and potentially encouraging export capabilities. 

In 2024, Papua New Guinea's manufacturing sector, while showing signs of potential, faces challenges and remains largely stagnant.

He made emphasis on the need to bring in a new anti-dumping legislation to protect the industries from dumping of products from other countries.

“The Government remains committed to fostering a sustainable and diversified economy by reducing dependence on foreign aid, strengthening trade partnerships to create a more competitive business environment, and making PNG an attractive destination for global investors.

"We are looking at building new trade and investment partnerships with Indonesia, Thailand and the United Arab Emirates, and also deepening and strengthening our trade and investment relationship with China and Japan on the back of a Comprehensive Economic Partnership Agreement,” said Minister Maru.

In order for more discussions on this , Minister Maru extend invitation to all participants at the forum to attend the upcoming launch of the PNG SEZ Foundation Policy on June 16, 2025, and the 2nd PNG SEZ Summit that will be hosted at the Hilton Hotel in Port Moresby from August 31 – September 3, 2025.