Papua New Guinea (PNA) Prime Minister Michael Somare said the newly signed China-Pacific Island Countries (PIC) Economic Development and Cooperation Framework marks a historic milestone in promoting China-PIC ties.

Somare, also chair of the Pacific Island Forum, made the remarks at the opening ceremony of the First Ministerial Meeting of the China-PIC Economic Development and cooperation Forum here Wednesday morning.

Visiting Chinese Premier Wen Jiabao attended the opening ceremony and delivered a keynote speech.

China-Pacific Island Countries Economic Cooperation and Development Guiding Framework will provide the impetus to boost greater trade between PIC and China, with an emphasis on stronger export performance from the forum island countries to China.

This will be via the implementation of new bilateral agreements and corresponding trade facilitating measures designed to fast- track the export process from Pacific Island states to China, the prime minister said.

The Guiding Framework also highlights a number of key sectors where cooperation can take place. These include agriculture and fisheries, tourism and transportation, financial services, engineering and infrastructure, the sustainable development of natural resources and the development of human resources, he said.

He said it is deeply honored by the presence of Chinese Premier Wen Jiabao for this important meeting.

He said, there is much "we can learn from one another, and we look forward to sharing our experiences and to also increase our trade and investment, and people exchanges."

He said the economic cooperation between China and the forum island countries has grown tremendously over the last four years.

He said the total trade between China and the forum island countries increased from 288 million U.S. dollars in 2002 to 500 million U.S. dollars in 2003,

The PNA prime minister said, over the last four years, total Chinese investment into the Pacific Islands was estimated at 113 million U.S. dollars in 2004 and is expected to reach 176.3 million U.S. dollars by December 2006 as a result of greater exchanges by governments and private sectors of the two regions.

He said, tourism has grown steadily over the last four years with China departures estimated at 35,000 in 2004, of which 78 percent traveled to Fiji. The China National Tourism Administration confirmed Approved Destination Status in 2004 and 2005 for four Pacific states, the Cook Islands, Fiji, Tonga and Vanuatu, with additional approvals announced this year for French Polynesia and New Caledonia.

He said tourism industry exchanges by government and private sectors of the two regions are expected to expand throughout 2006 and 2007, which should result in more forum island countries receiving Approved Destination Status, which will provide a positive net impact on China departures to the Pacific islands region.

Source: Xinhua