Indonesia and Papua New Guinea have ratified their double taxation treaty, in a sign of developing closer economic relations.
The treaty was originally signed in March 2010.
It follows PNG’s signing of a double taxation agreement with New Zealand in October 2012. PNG has also concluded double tax agreements with
- Australia
- Canada
- China
- Fiji
- Germany
- Korea
- Malaysia
- Singapore and
- the United Kingdom.
Prime Minister Peter O’Neill will lead a trade delegation to Jakarta from 17-21 June.
Trade Commerce and Industry Minister Richard Maru told local broadcaster EMTV that ‘the delegation will look at opportunities and establish trade links and joint ventures with Indonesia’s private sector’.
There can be few instances globally of economies of comparable scale with Indonesia and PNG sharing a land border yet currently trading so little.’
As previously reported, Air Niugini is expected to commence flights to Jakarta later this year.
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