PNG, SOUTH KOREA SIGN AIR SERVICE AGREEMENT

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New flights to connect the two countries

PORT MORESBY, Papua New Guinea (PNG Post-Courier, June 2, 2011) – An air Service Agreement between the Government of Papua New Guinea and Republic of Korea will now allow flights between the two countries.

Minister for Foreign Affairs and Immigration Don Polye this week met with his counterpart from the Republic of Korea Kim Sung Hwain on areas of bilateral relationship.

Mr Polye said from Hong Kong last yesterday that the agreement will be finalised and signed in September this year.

He said the Minister for Transport and Civil Aviation will play a vital role in this agreement.

Mr Polye said this agreement was among four other areas of arrangements established between the two countries.

He said: "We are happy with the outcome of the Investment Promotion Protection Arrangement (IPPA) and the Government of PNG will sign the IPPA arrangement also in September."

Mr Polye said a proposal for the establishment of Joint Committee on Mineral and Energy was presented by Republic of Korea and he has given directives for Papua New Guinea officials and will be linking the projects with relevant Ministers in the mineral and energy sector.

The Foreign Affairs Minister said he requested for the Republic of Korea to invest in transport, agriculture and tourism in PNG while presenting through Mr Kim Sung Hwain the Malalaua to Aseki and Kaintiba roads to be built, connecting Wau/Bulolo in Morobe Province.

Mr Polye has asked for the project to be done under an Integrated Green Technology Approach.

He said Mr Kim had agreed in principle for any investors to Papua New Guinea to partner with local businessmen and businesswomen in the country.

The Minister said the Papua New Guinea Government was satisfied with the bilateral arrangements with the Republic of Korea and requests for investments in the country.

Mr Polye said Papua New Guinea’s trade with Republic of Korea had been in PNG’s favour as trade in 1976 had increased from US$3million, and in 2009 it was US$250m and it had improved significantly.

"This means that Papua New Guinea is exporting more and importing less from the Republic of Korea – and in this arrangement with air service agreement, we want to expand in future between our two countries," he said.

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