The magnitude of trade between Papua New Guinea (PNG) and China over the years following trade agreements signed has seen China fast becoming the country’s most important trading partner. That was the statement from the Minister for International Trade and Investment, Richard Maru following his two-hour meeting with the Chinese Deputy Minister of Commerce, Mr. Tang Wenhong in Port Moresby over the weekend. “We are determined to grow and deepen our relationship with China and anchor it through a Free Trade Agreement between PNG and China if our joint feasibility study, which will be completed by July this year, confirms that it is viable and in our national interest to enter into a Free Trade Agreement with China,” stated the minister. “Australia recently signed a Free Trade Agreement with China, but it took Australia over 10 years to negotiate and finalize and sign their Free Trade Agreement. “We have started the process with PNG advancing its K1 million last year to commence the joint study and we are happy that China will make their K1 million available so we can complete the study in July,” Maru said. Although Australia is the biggest investor in PNG with investment valued at over AU$24.8 billion, Minister Maru said Australia hardly buys from PNG, a big contrast to what China is currently doing. Meanwhile, for the past five years, trade between PNG and China has been in favor of PNG with PNG recording surplus balance of trade from 2017-2021. In 2020, PNG exported K6.7 billion, imported K2.6 billion and has a trade surplus of K4.1 billion. China has been ranked 3rd as top export destination for PNG’s merchandise and also ranked 2nd as top import source for PNG, indicating that trade with China is economical. “We have realized that our future in terms of exports lies with China. If both Australia and New Zealand have Free Trade Agreements with China and they are the biggest export markets for these two countries, we must also move in this direction,” Maru said. Minister Maru further stated that after PNG signed the Belt and Road Initiative in 2018, PNG became China’s largest trading partner, investment destination and project market in the region. China’s aided projects such as roads, bridges, hydro-power stations have made important contribution to the economic development and people’s livelihood. “China’s growing economy coupled with soaring domestic demands stimulated by its 1.41 billion people, positions the country as an important source of global demand, hence we are keen to strengthen and deepen our relationship with China anchored on trade and investment,” he said. “I stressed to Minister Wenhong that we are looking for large Chinese investors in invest in our Special Economic Zones in order to fast track the growth of our economy. Our economy will not grow, jobs will not grow, and we will not move forward if we do not have investments.” Minister Maru also welcomed the three flights coming to PNG from China weekly as it will bring a lot of investors and tourists to come from China to PNG. “This is good news, but we must have the products like first-class hotels, and facilities like casino and others to attract the 100 million Chinese tourists to also consider PNG an attractive tourism destination. “China is also inviting us to attend their China Import and Export Fair so we can go and market our products in China. We will be working very closely with the Chinese Ministry of Commerce to secure export markets for our coffee, cocoa, fish, and other products.”