China & PNG Strengthen Relationship at APEC

Chinese President Hu Jintao and PNG Prime Minister Sir Michael SomareI was expecting it to happen and it finally did at the 16th Leaders’ Meeting of the Asia-Pacific Economic Cooperation (APEC) forum held in Lima, Peru.

The occasion I was anticipating? Chinese President Hu Jintao and PNG Prime Minister Sir Michael Somare holding audience with each other – both leaders met together on Saturday (23’rd).

Given PNG’s strategic geographic location in the middle of the Asia-Pacific and its rich natural resources (mineral, forestry, and fisheries) – China has reaffirmed it’s friendship and is keen to build on to its already substantial bilateral affair with PNG.

In October this year it was revealed that the trade between China and Papua New Guinea for the first half of this year reached US$488 million – a 38 percent increase from last year. PNG has been China’s largest South Pacific trade partner and investment target for the past several years and with the construction of the Ramu Nickel Mine Project – China is indeed serious about the relationship.

There is no doubt that China sees PNG not as a temporary supplier to its unquenchable economical thirst, rather the newest Super Power is planning for the future. The relationship China is meticulously nurturing with PNG is foreseen to not only last for the next couple decades – it is expected to simultaneously gradually expand.

Why?

Because PNG is the door for China to the Pacific – and China will do all it can do to keep that door open.

~ by Tavurvur on November 24, 2008.

4 Responses to “China & PNG Strengthen Relationship at APEC”

  1. […] the topic of APEC, it didn’t come as much of a surprise when the heads of state emerged for their traditional […]

  2. So who’s watching the door?

  3. Very nice. But is this collaboration for benefit of PNG or viseversa. It seems that Our PM is going for gold and not weighing out left and right. With the new Ramu Nickle Mine things are looking ugly. More environmental problems, clearing of dense and populated roads for infrastucture and more forigners for PNG and BIg Bucks for China. 10 years exsumption of tax, thats a good one Somare……..so whos benefiting?

  4. Confused Citizen,

    In the developing countries of today, the 10yr tax exemption is something that has proven to be quite popular. Of course, as you point out, who is benefiting from the 10yr tax holiday?

    What really needs to be pointed out is that there should not be irrational decision-making when it comes to the harvesting of PNG’s natural resources. What our leaders seem to always forget is that our resources, untouched, are worth more than when they’re being developed. Our resources aren’t going anywhere – they’re on PNG land.

    The application of patience will go a long way in the development of PNG

    Tavurvur

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