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PNG Ranked Korea’s Top Trading Partner in Pacific



Trade volume between Papua New Guinea and the Republic of Korea posted US$372 million in 2018 according to IMF report. This is a 57% increase over the previous year, now making PNG Korea’s biggest trading partner in the Pacific Islands region.


Ambassador of the Republic of Korea to PNG Kang Kym-gu announced this at the National Day Reception in Port Moresby last week which was witnessed by Governor General Sir Bob Dadae, Heads of Missions and important dignitaries. Ambassador Kang in his speech said that it’s been a year since he arrived to take up the top post and singled out that Korea and PNG have mutually complementary qualities on top of their similarities.


“On the economic front, Korea is importing PNG’s abundant natural resources and organic agricultural products,” he said. “It is not a story unfolding one way. Many in PNG are using mobile phones from Korea. “The sight of an increasing number of Korean cars in Port Moresby gladdens my heart. “The two countries will continue to push for economic partnership based on the principle of reciprocity.


Trade volume between the two countries posted 372 million USD in 2018 according to IMF, a 57% increase over the previous year. “PNG is Korea’s biggest trading partner in the Pacific Islands region. “On the diplomatic horizon, PNG saw a turning point earlier this year as Honourable James Marape was sworn in as its 8th Prime Minister, setting a new vision for the country. “PNG is surging as a confident nation with his ambitious vision of making PNG the richest Black Christian nation by 2030.


Best wishes and support from the international community including Papua New Guinea will lubricate the operation of the peace-making machinery of Korean peninsula. Korea and PNG will work closely together to cope with regional issues facing the Pacific Islands countries through PIF Dialogue, PlF-Korea Summit, and APEC Summit.


“Korea will stand by PNG in making the vision come true. A new era opened in the two countries’ bilateral relations after President Moon’s visit last year. “The Korean Embassy made various efforts to keep the momentum going. Just to name a few, it handed over an election management system, supported by the Korean National Election Commission, to the Electoral Commission of PNG.


“The PNG Electoral Commission is now equipped with data storage capabilities for future elections. “The Korean Embassy also donated ICT equipment to the Department of Foreign Affairs of Papua New Guinea to help modernize its organizational infrastructure. Korea and PNG, as they have so far, will stand together, especially in the multilateral realm, on issues such as peace process on Korean peninsula, climate change, and sustainable development.


“Korean President Moon Jae-in, during his address to the UN General Assembly last week, proposed the demilitarized zone (DMZ), an area stretching about 250 kilometers from east to west and 4 kilometers from north to south between the two Koreas, as a future peace and cooperation district on Korean peninsula.


As the ambassador of the Republic of Korea to PNG, I am deeply grateful that the two countries have enjoyed strong diplomatic ties for a long time, with growing affection for each other.


“Many tout PNG’s natural beauty and its abundant natural resources, but I personally believe that the best asset of PNG is its people who are warm-hearted and ingenuous, but indomitable in spirit. Therefore, PNG stands for not only Papua New Guinea, but also People Never Giving up. Let’s work together for our shared prosperity of the future.”

Continue reading at https://postcourier.com.pg/png-ranked-koreas-top-trading-partner-in-pacific/ | Post Courier

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