PNG a good friend to China

CHINA regards Papua New Guinea as a good friend and close partner in the South Pacific region, Ambassador Qiu Bohua says.

He said last Thursday during China’s 64th anniversary celebrations the governments and people of China and PNG had maintained frequent exchanges of high-level visits and yielded fruitful results from trade and economic cooperation.

“We have deepened friendship between our two people and strengthened coordination on international and regional issues,” he said.

Qui said PNG was China’s second largest trading partner and largest investment destination in the Pacific Islands.

He said the bilateral trade between the two countries amounted to $US1.3 billion (K3.36 billion) last year. China’s investment in PNG is more than $US2 billion (K5.17 billion).

He said the $US1.8 billion (K4.65 billion) Ramu Nickel project was China’s largest investment in the region.

Sinopec, one of China’s largest petroleum corporations, is a major buyer for the PNG LNG project.

“China Overseas Engineering Group and China Harbour Engineering Company are working hard on the Highlands Highway project and the expansion of the Lae Harbour,” he said.