5000 businesses, K45bil in investments make Aust a PNG heavyweight

The National PNG – ABOUT 5000 Australian businesses operate in Papua New Guinea, according to a statement from the Australian High Commission in Port Moresby.

In addition, Australian investment in Papua New Guinea exceeds

A$18 billion (K45 billion), largely in the financial services and oil and gas sectors. This underpins how economic cooperation continues to be the focus of the partnership between the two countries, the commission said.

The update comes as the 34th Australia Papua New Guinea Business Forum and Trade Expo opened in Brisbane yesterday.
The forum is the major annual business meeting between Australia and PNG.

It provides a platform for business leaders from both countries to discuss issues with the aim of enhancing bilateral business relationships.
This year’s theme is, Apec 2018: Achievements and Opportunities.

Discussions will encompass education, energy and telecommunications infrastructure, building the small-to-medium-sized enterprise sector in PNG and recovery efforts following February’s earthquake.

Pacific Horticultural and Agricultural Market Access (Phama) Programme is supporting five local businesses to attend the trade expo as part of efforts to promote PNG products.

Of the five exhibitors, two are female owned handicrafts businesses – Bougainville Pride Arts and Craft, and CWAKAMA Arts and Craft, from Ialibu, Southern Highlands.

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