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Category: Trade / Business, Economics and Finance / Foreign Affairs

PNG Trade Minister says no to PACER Plus trade with Australia

Friday, 5 Aug 2016 15:02:40

Keith Pitt has held high-level meetings with government ministers in PNG. (ABC)

A Papua New Guinean minister has told an Australian trade delegation that it will not participate in any trade that will not directly benefit PNG.

Australia and Pacific Islands Forum countries have been negotiating for the Pacific Agreement on Closer Economic Relations (PACER) Plus since 2009.

Keith Pitt has made his first trip to neighbouring PNG as Australia's new Assistant Minister for Trade, Tourism and Investment.

He said there was tremendous potential for growth in trade between Papua New Guinea and Australia.

"PNG is a very important trading partner," Mr Pitt said.

"Australian investments in PNG total over $18 billion so it's important that we continue to strengthen the relationship."

But Papua New Guinea's Trade Minister Richard Maru told Mr Pitt that PNG would not participate in the PACER Plus deal.

He said PNG's trade relations with Australia needed to be reviewed to suit the country's local economic growth aspirations.

"Papua New Guinea's trade relations with Australia have not been as good as it could have been in the sense that [we] have not been able to attract Australian investment in the sectors that are important," Mr Maru said.

He said the areas that were important to PNG were agriculture, tourism, education, and sustainable sectors.

"I know the Australian Government has been actively pushing the PACER Plus policy within the region," Mr Maru said.

"I've made it clear that PNG is not interested and that I have directed all my officers not to entertain any negotiations."

Mr Maru said PNG wanted a bilateral trade agreement with Australia that would ensure the creation of employment and trade deficits between the two countries were equal.

He said he intended to visit farms in Australia to try to attract investment in agriculture in PNG, especially in fruits and cattle.

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