PNG teams up with Chinese megacity Shenzhen
The potential of Papua New Guinea impressed a 36-strong business delegation from Shenzhen, China, which visited Port Moresby between February 23 and 27. The delegation was led by the Chinese megacity’s Vice-Mayor, Ai Xuefang.
[caption id="attachment_7795" align="alignleft" width="430"]<a href="https://pacifictradeinvest.com/wp/wp-content/uploads/2016/02/rsz_1sister_port_LARGE.jpg"><img class="size-full wp-image-7795" src="https://pacifictradeinvest.com/wp/wp-content/uploads/2016/02/rsz_1sister_port_LARGE.jpg" alt="PNG and Shenzhen officials after signing the agreement." width="430" height="235" /></a> PNG and Shenzhen officials after signing the agreement. Trade Commissioner Morris is second from right.[/caption]
At an investment seminar jointly hosted by Shenzhen Chamber of Commerce and Pacific Islands Trade & Invest (PT&I) Beijing, some of Shenzhen’s leading firms in energy, construction, infrastructure and other sectors heard about PNG’s strong opportunities for further development.
Shenzhen companies presented their plans for investment in PNG including Vivafounder's major agro-forestry project in West Sepik and Zhongtai’s ambitious redevelopment project for Port Moresby’s iconic Paga Hill, with key conference facilities to be completed in time for the city to host the APEC Leaders Summit in 2018.
PNG companies learned of the Shenzhen success story, growing from a fishing village to one of the world’s major trade hubs in only three decades, and expressed a warm welcome for Shenzhen companies to invest in PNG”s future economic development.
At the PT&I business networking event, a traditional welcome for the Shenzhen delegation was staged by Manus dancers, providing the visitors with a glimpse of PNG’s rich and diverse culture.
The Shenzhen Government repeated their offer for PT&I to open a representative office in the booming South China city and Beijing-based Trade Commissioner David Morris said he planned to accept the offer, given the active business links emerging between Shenzhen and the Pacific Islands region.
As an outcome from an original meeting on the PT&I Southern China Mission to Shenzhen last October, PNG Ports and Shenzhen signed an MOU to become Sister Ports on February 24. Importantly, Shenzhen’s Yantian Port signalled its strong interest in a series of investment opportunities to support PNG ports and related infrastructure.
[caption id="attachment_7796" align="alignleft" width="200"]<a href="https://pacifictradeinvest.com/wp/wp-content/uploads/2016/02/rsz_david_morris.jpg"><img class="size-full wp-image-7796" src="https://pacifictradeinvest.com/wp/wp-content/uploads/2016/02/rsz_david_morris.jpg" alt="PT&I Chine Trade Commissioner david Morris speaks in Sydney." width="200" height="138" /></a> PT&I China Trade Commissioner David Morris speaks in Sydney.[/caption]
Trade Commissioner David Morris and the Chinese Ambassador to PNG, Li Ruiyou, witnessed the signing ceremony between the two ports and also spoke at the opening of the first China (Shenzhen) Exhibition Centre in Port Moresby during the delegation’s visit.
On the way to PNG, Mr Morris gave a speech at Sydney University’s China Studies Centre on how the Pacific Islands can benefit from China’s plans to develop a “Maritime Silk Road”. His speech is available here: