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The Kina and Toea Exhibition was launched on 29 August and continued from 30 August to 6 September 2024 at the National Museum & Art Gallery in Port Moresby. The exhibition offered a possibility to explore the fascinating history of PNG forex and its distinctive place in the nation’s growth. Displaying cultural richness and variety, attendees had been reminded of the importance of forex as a reflection of PNG identity, values, and traditions. The Assistant Governor of Corporate Affairs, Mr Ron Sikar, gave the opening speech and officially declared the exhibition open on behalf of the Governor of BPNG, Elizabeth Genia, in her absence. “It is an honour to stand earlier than you at present as we open the Kina and Toea Exhibition, a showcase of our nation’s wealthy and evolving financial history as part of the Bank’s fiftieth anniversary celebrations,” Governor Genia mentioned. She highlighted that the occasion is particularly vital because it precedes the 50th anniversary of both the nation’s forex and the nation itself.

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Sign Up NowGet this delivered to your inbox, and more data about our services. The Big Question From entrepreneurs to world leaders and academics, we talk about what makes them tick and see the bigger picture of what’s happening in the world of business. 3News is funded by readers like you, as our website is an advertising supported one. Reps ask NPA to reverse termination of agreement with IntelsThe House of Representatives yesterday waded into the ongoing controversy… FCMB Bank Limited Launches Personal and Business Banking Proposition to Deepen InclusivenessFCMB Bank Limited, an independently included subsidiary of First…

Indonesia, our closest neighbour, has successfully navigated this path and is now a formidable participant on the worldwide stage. He revealed that two Indonesian firms have expressed curiosity in multi-billion kina rice and recycling projects in PNG, with proposals beneath evaluate for approval by the National Executive Council . “This marks the start of a new period for PNG as we shift our commerce and investment focus to Indonesia,” Minister Maru concluded. The Bank of Papua New Guinea formally launched the Kina and Toea Exhibition, a show celebrating the nation’s rich economic historical past and the 50th anniversary of Papua New Guinea’s currency. This event, held as a half of the Bank’s 50th anniversary celebrations, coincides with the upcoming fiftieth anniversary of PNG’s independence in 2025.

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It’s time for PNG to determine a sturdy commerce and funding relationship with Indonesia, which has already mastered downstream processing and value addition. “Under the Marape-Rosso Government, PNG must shift away from being a mere exporter of uncooked materials. As we method our 50th anniversary, it is crucial that we make a decisive change.

“Our government has already declared its intention to pursue downstream processing, and we don’t have to reinvent the wheel. Indonesia is right subsequent door, able to share its experience and offer help,” mentioned Minister Maru. He continued, “For practically five decades, PNG’s engagement with Indonesia has largely targeted on border and security talks, which haven’t resulted in improved border amenities, direct transport links, job creation, or important commerce between our countries.