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THE Seventh China International Import Expo (CIIE) was held in Shanghai, China, last Tuesday with the theme “New era, shared future”.
It is an initiative planned, proposed, deployed, and advocated by Chinese President Xi Jinping.
Since it began in 2018, the CIIE has been serving as a platform for international procurement, investment promotion, cultural exchange, and open cooperation.
Papua New Guinea (PNG) National Trade Office (NTO) market access and trade agreements division director Hildegard Rai explained the importance of PNG’s participation this year.
What is the benefit of attending the CIIE this year?
National Trade Office senior trade officer Evangeline Kenneth setting up items in the Papua New Guinea exhibition booth. – Nationalpics by JESHER TILTO
RAI: This is the second time for the NTO to coordinate PNG’s participation in this expo.
The NTO was invited to participate through the Chinese Embassy in Port Moresby.
During the fifth expo in 2022, the country pavilions were virtual due to post-Coronavirus restrictions.
Previously, PNG’s participation was coordinated by the trade division of the former Department of Trade, Commerce and Industry up to the fourth expo.
Besides participating under the country exhibitions, ministers would also attend with their delegations looking for opportunities in various sectors. With this background, the Seventh CIIE presents huge opportunities for PNG.
This expo is focused on entering the Chinese market and providing a platform for countries and regions to strengthen economic cooperation and trade with China.
Importantly, this event is attended by government officials, business communities, buyers from all over China and internationally, and exhibitors from both China and the world.
In a nutshell, this event showcases to China what PNG can sell.
I believe that everything PNG produces, if marketed right, can be sold to China.
How does this expo improve trade and investment between PNG and China?
RAI: Many Chinese investors are interested to exploring opportunities in PNG in all sectors. Likewise, many Papua New Guinean businesses are interested in exploring the Chinese market, buying machinery and other equipment from China to use in their businesses and to export their semi-processed and finished goods, especially niche items.
China is a huge economy and this platform brings Chinese and international importers and related businesses into one event to allow for business, trade and investment to take place.
What are some barriers that have hindered trade with countries like China?
RAI: China is quite a regulated country and understanding how the Chinese do business and the practicalities of getting goods into China is quite challenging. Also, the language barrier is quite a challenge for many small-to-medium enterprises or businesses trying to do business with China.
Products that were on display at the Papua New Guinea exhibition booth at the China International Import Expo in Shanghai, China, on Nov 5.
How can an expo like this address those challenges and other issues in the future?
RAI: Doing business in China is very much built on relationships and mutual trust, or as the Chinese say, “guanxi”.
Meeting Chinese businesses, entrepreneurs and other people involved in trade facilitation can be very beneficial in helping PNG businesses enter the Chinese market.
China is a large and complex market. Therefore, to help navigate the environment, it is advisable to attend and meet some Chinese businesses involved in importing into China and have experience in doing so.
What are some ways to improving trade and investment with China and other international trading partners?
RAI: Aside from trade expositions, other ways to improve trade and investment are to have updated and readily available information about PNG on updated and regularly maintained websites.
Lack of transparency on government regulations increases uncertainty for investors.
Other areas to improve on trade and investment in PNG is to increase the accessibility to foreign exchange and address law and order issues.
What other products and services should PNG be presenting to the international market to improve trade/investment?
RAI: PNG needs new investments in down-streaming of natural resources, including investment in agriculture and the fisheries sector.
There must also be investment into developing our tourism products and other areas such as renewable energy, transportation and logistics, opening up domestic aviation and shipping routes.
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