Papua New Guinea eyes investors at international trade fair
Tarcisius Eri, PNG High Commissioner to India (far right) talks to a potential Indian
investor. Picture courtesy of Mereseini Marau
By Mereseini Marau, New Delhi
PAPUA New Guinea (PNG) is making its presence felt in India as a participant in the 32nd India International Trade Fair.
The Papua New Guinea High Commission in New Delhi, in collaboration with the PNG Investment Promotion Authority (IPA), also organised a one day seminar informing potential investors of the investment climate and opportunities they could find in the Pacific Islands state.
PNG high commissioner to India Tarcisius Eri said as a new comer to New Delhi with the establishment of a mission in 2006, PNG saw itself as a bridge between the Pacific and South East Asian and South Asian countries.
Mr Eri, when speaking to investors, said PNG had great investment potential and opportunities that needed to be explored and developed.
He said sectors for potential investment include agro-forestry, specifically oil palm and logging. In agriculture there was potential in rice, coffee and cocoa and in fisheries, investors can consider bech-de-mer, tuna and reef fishing.
While PNG’s mining industry contributes over 60 per cent of the country’s export income, Mr Eri said there was still room for investment in gold and lime stone mining. PNG’s booming real estate industry and road construction could also be another area of interest, he added.
The local cottage industry could also attract investment as it was a sector which India had expertise in.
“I must also add that there is a lot of scope for cooperation in the small scale and cottage industries sector where I believe India has expertise and technology to assist rural and village communities where majority of our population lives," he said.
A delegation from PNG comprising officials from the IPA, PNG Power Ltd, Mineral Resources Development Company (MRDC), the Cocoa Board and National Fisheries Authority (NFA) are in New Delhi for the trade fair.
The India International Trade Fair or IITF is a 14-day event attracting over 6000 exhibitors and 350 companies from 28 countries. Seminars and workshops mixed with cultural programs is a key feature of the event organized by the India Trade Promotion Organisation. The trade is expected to attract business representatives and delegates from 73 countries and will end on Tuesday November 27.