China and Papua New Guinea sign the Framework Agreement for Enhancing Economic Partnership and issue a joint statement

On May 21st, during the Asia Pacific Economic Cooperation (APEC) Trade Ministers' Meeting, Minister of Commerce Wang Wentao and Papua New Guinea's Minister of International Trade and Investment Maru jointly signed the "Framework Agreement for Enhancing Economic Partnership" (referred to as the "Framework Agreement") and issued a joint statement.

According to the Framework Agreement, both parties agree to engage in flexible and pragmatic negotiations around specific issues, negotiate and sign institutional arrangements, further expand bilateral trade, and support Papua New Guinea in attracting investment, accelerating industrialization and agricultural modernization, and deeply participating in global industrial and supply chain cooperation. Both parties will initiate subsequent module negotiations as soon as possible in order to achieve mutually beneficial and win-win results.