Nabilah S
Australia and Papua New Guinea (PNG) are deepening their economic partnership to support sustainable growth in PNG as the nation prepares to celebrate its 50th year of independence. This collaboration aims to foster trade, investment, and capacity-building initiatives, reinforcing Australia’s commitment to PNG’s economic development while promoting shared prosperity for both nations.
PNG and Australia Strengthen Economic Ties Ahead of PNG’s 50th Anniversary of Independence
A significant milestone in this partnership was the recent Aus-PNG Business Dialogue, which brought together over 30 business leaders from both countries. The forum offered a platform for discussions focused on enhancing cooperation and addressing common economic challenges. Participants explored opportunities to align efforts in key areas such as small and medium enterprise (SME) development, agriculture, and public financial management. The dialogue highlighted the crucial role of private sector involvement in shaping policies that can drive long-term economic growth in PNG.
Australia is supporting PNG’s economic goals through the Australia-PNG Economic Partnership, a framework designed to provide targeted assistance across vital sectors. This includes initiatives focused on improving public financial management, enhancing SME growth, and strengthening agriculture and biosecurity systems. By addressing these core areas, Australia aims to help PNG build a more resilient and diversified economy that can meet the needs of its growing population and industries.
Australian High Commissioner to PNG, John Feakes, expressed gratitude to business leaders for their participation in the dialogue, stressing the importance of hearing directly from industry stakeholders. He noted that their feedback would guide Australia’s approach to supporting PNG’s economic development. Feakes emphasized the need for capacity-building initiatives in business development, employment skills, and good governance, which are essential for creating a sustainable economic future. These efforts aim to ensure inclusive growth that benefits businesses, industries, and communities alike.
The outcomes of the forum are expected to shape Australia’s future economic development programs in PNG, enabling more targeted and effective interventions. By aligning its support with PNG’s goals, Australia seeks to contribute to a resilient economic future for the country. As both nations strengthen their collaboration, the focus remains on achieving tangible results that will enhance bilateral relations and pave the way for a prosperous and sustainable future for PNG as it celebrates five decades of independence.
