Wednesday 17 July 2024
Leaders of the Pacific Island countries with Japan’s Prime Minister, Mr Fumio Kishida, during the 4th Japan- Pacific Island Countries Economic Forum in Tokyo.
Tokyo: Prime Minister Hon. James Marape emphasised the significant trade relationship between Japan and Papua New Guinea, valued at over US$2 billion (K7 billion) annually, during his address at the 4th Japan-Pacific Island Countries Economic Forum in 2024, held in Tokyo.
Prime Minister Marape expressed his gratitude towards Japanese companies for their contribution to this robust trade partnership.
“I want to place on record Papua New Guinea’s appreciation with the volume of trade between our two countries exceeding K7 billion or over US$2 billion,” Prime Minister Marape said.
“I want to say ‘arigato gozaimasu (thank you very much)’ to all Japanese companies operating in Papua New Guinea.
“We are looking forward to continuing engagements with Japanese companies. “We are a free-market capital country with vast resources, a strong judiciary and arbitration process, a population of 15 to 20 million with consumption ability, and our place within the Melanesian Solidarity Group (MSG) countries, Pacific nations, and Southeast Asia makes us a competitive place for investment.
Mr Marape urged potential investors at the Forum to invest in Papua New Guinea, as there are many Japanese companies already in Papua New Guinea doing business since 1975.
“Papua New Guinea goes by this motto at international engagements, ‘trade, not aid’, as whilst we appreciate aid we want to focus more on trade.”
Prime Minister Marape also highlighted the extensive maritime resources of Pacific countries, underscoring their strategic importance.
“Combining all the Pacific nations together, we hold one of the biggest spaces on earth, bordering Japan, USA, and Asia,” he said.
“Our big space has marine resources, especially fish, with Japan consuming over 40 percent of tuna produced in the Pacific.”
He further appealed for an increase in Japanese tourism to Pacific nations. “Statistics this year tell me that over 900,000 Japanese tourists have gone out already,” he said.
“If just 200,000 of these are spread over all the countries of the Pacific, you will assist their economies get better.
“Send 50,000 of these to Tuvalu, 50,000 to Micronesia, another 100,000 to Solomon Islands or Vanuatu, and you will see money earned from tourism sustaining their economies.
Prime Minister Marape says he looks forward to more people-to-people engagements as well as business-to-business engagements with Japan.