Papua New Guinea's International standings growing : PM O'Neill

Fast developing city of Port Moresby, Papua New Guinea

Papua New Guinea's international standing is helping to secure its economic future, especially over the medium term to long term, Prime Minister Peter O’Neill says.

O’Neill said the successful staging – at short notice – of the Africa Caribbean Pacific leader’s summit last week was the latest in a series of major international and regional events the country had staged successfully.

“We do more than just host events successfully,” O’Neill said.
“We enjoy a strong leadership role in the deliberations that take part during events such as the ACP leader’s summit and the Pacific Islands Forum,” he said.

He said it was also strengthening PNG’s name as a secure country to invest in.
“It is also assisting us secure international donor grants and loans from sources as diverse as the European Union, the Asian Development Bank, and nations such as Japan,” he said.
He had told the G7 leaders meeting in Japan just last week that the world economic environment remained very uncertain.

“Our medium to long-term economic future will be secured by a mix of responsible fiscal management by the Government, by strong investor and business confidence, and high standing among international and regional organisation, and nations we trade with,” O’Neill said.
He remains optimistic about private sector and business confidence in PNG.
“The recent Cairns PNG-Australia Business Council Forum was attended by more than 450 business leaders from Papua New Guinea and Australia.

“Of course the business leaders had some concerns, such as those relating to foreign exchange. But their overall confidence in PNG was as good as it has been at any of the four business council forums I have attended as Prime Minister.” The National / PNG Today