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Taiwan can help transform Papua New Guinea Economy

TAIWAN has the potential to facilitate and reinforce the progress of Papua New Guinea’s economic transformation toward full economic independence, Taiwan trade mission representative Daniel Hu says.
Speaking at the second Taiwan trade fair in Port Moresby yesterday, Hu said the Taiwan trade mission in PNG had facilitated policy and strategy to create a business environment that promoted competitive small and medium enterprises (SME).
Taiwan has more than 1.2 million SMEs, accounting for 97.7% of all enterprises in the country.
Hu said: “SMEs are the pillar of Taiwan’s economy … SMEs in Taiwan employed eight million people, making up 78% of the island’s overall employment.”
“Taiwan can be of help as PNG moves on the path of national development, aiming to transform the country from subsistence farming into specialised and commercialised farming, from a basic local economy into a newly-industrialised economy,” Hu said.
The trade fair is a weeklong exercise with 20 companies representing the manufacturing sector showcasing different products. 
Hu said that at this year’s trade fair, nothing offered for trade competed with PNG’s own local products. 
“I just ‘bring Taiwan to PNG’ with a distinct objective to make it more convenient for PNG’s indigenous businessmen and local SME to select, experience and choose the products, technologies and partners from Taiwanese manufacturers under one roof in Port Moresby and Lae … thereby, saving them the cost without burdening them to travel to Taiwan.”
Mission leader Chin-Teh Chang described the relationship between the countries as ‘highly complementary” in economic cooperation.   
He said Taiwan was not only here to explore PNG market. 
“We hope through our joint efforts, PNG human resources can be strengthened, SMEs can be prosperous, employment rate can be higher. 
“Through Taiwan’s channel of market, PNG product can reach every corner of the world,” Chang said.
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