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Japan, Papua New Guinea agree to start talks on investment accord (Mar 29)
Japanese 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. (Kyodo)