Prime Minister James Marape says that the current exchange rate favours exporters.
“At present, the Kina exchange rate is favourable for exporters,” he said.
“When you export, you earn more.
“This is an opportunity we must seize.”
Marape encouraged businesses, farmers, cooperatives and producers to take advantage of existing market access and global demand.
“While the global economic outlook remains uncertain, let us focus on what we can control,” he said.
“Let us produce to supply markets that are already within our reach.
“The world has a growing need for what Papua New Guinea has to offer.
“And now is the time for us to step up production.”
Marape said despite global uncertainty, PNG remained exceptionally well-positioned to access international markets.
PNG’s bilateral and multilateral relationships include:
– Connectivity with 13 G20 economies;
– Expanding engagement with the Middle East, including Arab nations such as Saudi Arabia, the United Arab Emirates, and Israel;
– Traditional partnership with the United Kingdom and Europe (European Union);
– Strong relations with the United States and Canada, and through the Asia-Pacific Economic Cooperation (Apec);
– Bilateral ties with China, Japan and South Korea; and,
– Close partnerships with neighbours Australia, New Zealand and Southeast Asian countries (Indonesia, Malaysia, Philippines, Singapore and Thailand).
“Our access to global markets is extensive,” Marape said.
“What is required now is for us to step up as producers.”
He urged provincial governments to take stock of their economic resources and work with the Government.
“I call upon all provincial governments to undertake a comprehensive assessment of the resources in your provinces.
“The Government (will see) how best we can partner in ramping up productivity in every province and region,” Marape said.
