PNG to look North, East and West to Expand Business, Trade and Investments

Papua New Guinea to Look North, East and West to Expand Business, Trade and Investment Horizons: PM O’Neill to Address UK-PNG Trade and Investment Forum

The Prime Minister of Papua New Guinea, Hon. Peter O'Neill CMG MP, has described the current opportunity for expanded business, trade and investment with Europe and North America as the greatest it has been in the history of the nation.

As he prepares to deliver the Keynote Address to the inaugural United Kingdom – Papua New Guinea Trade and Investment Forum on Tuesday, Prime Minister O'Neill welcomed this increased interaction with Europe.

"Papua New Guinea must look beyond traditional markets for our business, trade and investment as we strengthen our position in the global economy," PM O'Neill said.

"We will always have a strong trade relationship with Australia to the south, but we must also look north, east and west and continue to expand our horizons.

"Europe has opened the door to Papua New Guinea and we will continue to build on this engagement particularly for our agricultural products.

"We have opened new trade links with Japan and China, and engagement with North American companies is also growing.

"This is a strategic approach to positioning Papua New Gu­­­­inea to take advantage of global opportunity and the response has been positive.

"It is also easier for Papua New Guineans to travel to Indonesia, or Japan or England so we have to take advantage of those opportunities."

The Prime Minister said that there will be many delegates at the UK-PNG Trade and Investment Forum who have never been to Papua New Guinea, and this will be their first insight to the nation's change over recent years.

"Our nation is a long way from London, but global capital and business today knows no bounds.

"This will be an informative forum for a number of large investors and we look forward to welcoming their investment to Papua New Guinea."

The inaugural United Kingdom – Papua New Guinea Trade and Investment Forum is anticipated to engage around 250 European and North American businesspeople and investors.

The forum will provide an opportunity for delegates to engage directly with the Prime Minister, ministers and senior officials from Papua New Guinea.

Following the forum the Prime Minister will meet Her Majesty, Queen Elizabeth II, before a series of meetings with business representatives in Brussels and Paris.