Australia and PNG Strengthen Economic Ties Ahead of 50th Independence Anniversary
Australia and Papua New Guinea (PNG) are strengthening their economic partnership to support sustainable growth in PNG as the nation prepares to celebrate 50 years of independence. The collaboration aims to foster trade, investment, and capacity-building initiatives, reflecting Australia’s commitment to supporting PNG’s economic development while promoting shared prosperity for both nations.
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| Australia and PNG Strengthen Economic Ties Ahead of 50th Independence Anniversary [Photo by Australian High Commission PNG] |
A key milestone in this partnership was the recent Aus-PNG Business Dialogue, which brought together over 30 business leaders from both countries. The forum provided a platform for discussions on enhancing cooperation and addressing shared economic challenges. Participants explored opportunities to align efforts in critical areas such as small and medium enterprise (SME) development, agriculture, and public financial management. The dialogue underscored the importance of private sector engagement in shaping policies that can drive long-term economic growth in PNG.
Australia is backing PNG’s economic goals through the Australia-PNG Economic Partnership, a framework designed to deliver targeted support across key sectors. This includes initiatives aimed at improving public financial management, boosting SME growth, and strengthening agriculture and biosecurity systems. By addressing these foundational areas, Australia aims to help PNG build a more resilient and diversified economy capable of meeting the demands of its growing population and industries.
Australian High Commissioner to PNG, John Feakes, thanked business leaders for their participation in the dialogue, emphasizing the importance of hearing directly from industry stakeholders. He noted that their insights would guide Australia’s approach to supporting PNG’s economic development. Feakes highlighted the need for capacity-building initiatives in areas such as business development, employment skills, and good governance, which are crucial 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 inform Australia’s economic development programming in PNG, enabling more targeted and effective interventions. By aligning its support with PNG’s ambitions, Australia seeks to contribute to a resilient economic future for the nation. As both countries deepen their collaboration, the focus remains on delivering tangible results that will not only strengthen bilateral relations but also pave the way for a prosperous and sustainable future for PNG as it celebrates five decades of independence.
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