Prime Minister James Marape of Papua New Guinea anticipates significant diplomatic engagements with China and Australia in the coming days, signaling a strategic move to bolster economic partnerships. These forthcoming visits underscore Papua New Guinea's pivotal role in regional trade dynamics, with both China and Australia collectively representing over 70% of its trade volume.
Chinese Foreign Minister Wang Yi's scheduled arrival on Saturday marks a crucial milestone in bilateral economic relations. Expected to engage in discussions with Prime Minister Marape on Sunday, Wang Yi's visit is poised to facilitate the signing of key economic cooperation agreements, further enhancing trade collaboration between China and Papua New Guinea. Marape expressed optimism about the ongoing negotiations for a free trade agreement with China, aiming for completion by June, and welcomed the potential for expanded agricultural exports to China.
Concurrently, Australian Prime Minister Anthony Albanese's visit holds significant economic implications, coinciding with ANZAC Day. Commemorating the historical defense ties between the two nations, Albanese's engagement includes traversing a section of the Kokoda Track, symbolizing the enduring economic and strategic partnership between Papua New Guinea and Australia. Marape emphasized the importance of Albanese's visit in strengthening economic ties between the two countries.
These diplomatic endeavors underscore Papua New Guinea's commitment to fostering economic cooperation and trade diversification amidst global uncertainties. Marape's emphasis on maintaining positive relations with all nations aligns with the nation's overarching trade-centric agenda, aimed at bolstering economic resilience and prosperity.
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