Marape to hold bilateral talks with Japanese counterpart

Prime Minister Marape will today hold bilateral talks with his Japanese counterpart Shigeru Ishiba and members from the Japanese private sector.

Marape in a statement said the focus of his meeting with the Japanese Prime Minister is to discuss a trade framework between Papua New Guinea and Japan to further the longstanding relationship between the two countries.

He said with the International Monetary Fund’s economic assessment that PNG has improved its growth rate, with a forecast of 4.7 percent this year, the country is now better placed in terms of trade, and strong partners such as Japan will continue to be needed to provide the markets for PNG’s raw materials.

“Japan is one of our top three trading partners, as it has continued to exhibit strong engagement over the last 51 years since we entered into this bilateral arrangement.

“In the midst of many trade contests, we want a specific trade relationship with Japan with no tariffs either way. The focal point of my conversation with the Japanese Prime Minister will be a trade framework to anchor further our existing partnership.

“Japan needs more energy, more coffee, cocoa, vanilla and agricultural produce while we need their machinery, vehicles and manufactured products. We also need Japanese investors in our country.

“The meeting with the Prime Minister is an important one as it will secure the relationship of our two countries for the next 50 years,” said Prime Minister Marape.