PM Marape wants PNG to export finished products, not raw materials
Papua New Guinea Prime Minister James Marape wants the country to become an exporter of finished products, as opposed to the current trend of exporting raw materials.
He adds regardless of the sector, all businesses must now get accustomed to down-stream processing to maximize benefits from export earnings.
"If you are producing gold, you must get into the mindset of refining our gold in the country. If you a producing timber and others you must get used to the fact that this leadership with have an emphasis on down-stream processing," the Prime Minister said.
PNG PM Marape wants down-streaming processing of raw materials in PNG.
He adds the country can take this path in achieving his aim of building a stronger economy for Papua New Guinea.
While the country continues to generate most of its earnings from the mining and oil & gas sector, Marape wants a shift to be made to the renewable sectors.
A top priority is the agriculture sector with the PM setting a target of five years for the country to have an agriculture driven economy.
"Five years from now we want to be better known as an agriculture nation, a food producing nation and not just an oil and gas nation," said Marape.
With a resilient economy in place, the Prime Minister says other government agendas can be achieved going forward.