Japan, Papua New Guinea to start talks on bilateral investment treaty
Visiting Papua New Guinean Prime Minister Michael Somare (L) and Japanese Prime Minister Yukio Hatoyama shake hands at the prime minister’s office in Tokyo on March 29, 2010, prior to their talks. The two leaders agreed to launch negotiations on a bilateral investment treaty. (Kyodo)
Kyodo | March 30 2010
Japan, Papua New Guinea to start talks on investment accord
TOKYO — Prime Minister Yukio Hatoyama and Papua New Guinean Prime Minister Michael Somare agreed Monday to launch negotiations on a bilateral investment accord with a view to boosting Japanese investment in a country rich in natural resources, Japanese officials said.
Tokyo hopes to secure a stable provision of natural resources, including natural gas and copper, by promoting Japanese companies’ investment in Papua New Guinea, while Papua New Guinea hopes to tap the capital that may be provided by the companies to develop the southwestern Pacific country.
