The revival of the Fiji-PNG Business Council to revitalise trade opportunities between Fiji and Papua New Guinea is significant and timely.
The Attorney-General and Minister for Industry and Trade, Aiyaz Sayed-Khaiyum said there are a number of exciting economic projections and opportunities that exist in both countries which can synergize and both the countries can benefit.
Fiji-PNG Business Council, which was formed in 2005, had been inactive for the last eight years.
He said while PNG is famous for its mineral deposits and mineral resources, Fiji has a very well developed financial sector which can go together.
Sayed-Khaiyum said there are a number of trade agreements in place for Melanesian countries which PNG and Fiji can utilise to their advantage
He also acknowledged a major Papua New Guinea company, Bank of the South Pacific for taking a significant step to invest in Fiji.
Similarly, the Grand Pacific Hotel project is due for completion by the end of the third quarter of 2013 and again Fiji have the Papua New Guinean Superannuation Fund and one of the other development companies that are involved with that.
Expressing similar opinions, PNG’s High Commissioner to Fiji Peter Eafeare said the business council will serve as a conduit in which the untapped business and investment opportunities can be explored, maximised and promoted.
By Ropate Valemei
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