“Our government has already declared its intention to pursue downstream processing, and we do not have to reinvent the wheel. Indonesia is right next door, ready to share its expertise and supply help,” stated Minister Maru. He continued, “For practically 5 Business News a long time, PNG’s engagement with Indonesia has largely focused on border and security talks, which have not resulted in improved border amenities, direct delivery links, job creation, or important trade between our countries.
Indonesia, our closest neighbour, has successfully navigated this path and is now a formidable participant on the worldwide stage. He revealed that two Indonesian corporations have expressed interest in multi-billion kina rice and recycling projects in PNG, with proposals under evaluate for approval by the National Executive Council . “This marks the beginning of a new era for PNG as we shift our trade and funding focus to Indonesia,” Minister Maru concluded. The Bank of Papua New Guinea formally launched the Kina and Toea Exhibition, a display celebrating the nation’s rich economic history and the fiftieth anniversary of Papua New Guinea’s foreign money. This occasion, held as part of the Bank’s 50th anniversary celebrations, coincides with the upcoming 50th anniversary of PNG’s independence in 2025.