MARU SEEKS TRADE & INVESTMENT AGREEMENT WITH JAPAN

The Minister for International Trade and Investment, Richard Maru, is adamant in establishing a Trade and Investment Agreement with Japan to boost the export of goods from Papua New Guinea (PNG) to the Japanese market.

Minister Maru, when delivering his keynote speech at the recent launching of PNG’s participation in the Osaka Expo 2025 at the National Parliament in Port Moresby city, said he wants to negotiate with the Japan Government on establishing the agreement on the back of the Expo, which will commence in April.

“After 50 years of relationship, we do not have a trade and investment agreement with Japan like we do with the European Union. An interim partnership agreement,” said the minister.

“We don’t have a comprehensive economic partnership agreement with Japan. No wonder they don’t give us free market access for our fish like Europe.”

Emphasizing the significance of establishing a Trade and Investment Agreement with Japan, he said this would complement the PNG Government economic initiatives, such as the downstream processing of fish products. He said with the agreement in place, fish products processed in PNG can be ship to the Japanese market.

Not only that, coffee products from PNG can also be exported as Japan has shown interest in the quality of PNG coffee brands. Japan consumes about 5% of the world’s coffee, a market worth tapping into.

Maru also said to further boost this trade and investment, the direct flights between Port Moresby and Narita in Japan, must resume. This will not only enable more trade between the two countries, but more importantly, boost tourism as well.

The World Expo 2025 will be hosted in Osaka from April 13 to October 13, 2025, and it’s set to be a truly global event drawing in an estimated 28.2 million visitors. This will be the second time Osaka has hosted the Expo following its successful run in 1970.

Over the course of 184 days, 150 countries will come together to showcase groundbreaking innovations, cultural exchanges, and forward-thinking solutions to the world’s biggest challenges.

The Expo’s theme, “Designing Future Society for Our Lives,” focuses on the future of health, technology, and global connectivity, emphasizing creating sustainable solutions for future generations.