PNG Needs Deficit-Free K25bn Budget for 2026, Says Nomane

Papua New Guinea has formalised a new bilateral cooperation document under China’s Belt and Road Initiative as trade between the two countries surged to K17.8 billion last year. The signing was highlighted during the 2025 Guangdong Products in Pacific Island Roadshow held in Port Moresby yesterday.

Chinese Ambassador Yang Xiaoguang said PNG had now emerged as China’s largest trading partner in the Pacific, as well as its leading investment and development partner. According to figures presented at the event, PNG enjoyed a surplus of more than K7.5 billion in 2023.

He said China had supported PNG for many years through grants and concessional loans, delivering more than 60 projects in areas such as education, agriculture, health and infrastructure. The ambassador noted that the recent China International Import Expo (CIIE) in Shanghai attracted over 4,000 global enterprises, showing the continued strength of Guangdong’s market.

PNG has independently participated in the CIIE for two years running, with local companies gaining new exposure to Chinese buyers. “PNG’s unique products, including its high-quality agricultural and seafood products, have entered the Chinese market, allowing more Chinese consumers to discover the excellence of PNG’s offerings,” Mr Xiaoguang said.

He described Guangdong Province as a long-standing leader in China’s economic growth as well as a key driver of cooperation with PNG. In 2023, former governor Wang Weizhong visited Port Moresby and reached several agreements in investment, agriculture and fisheries.

Direct flights between Guangzhou and Port Moresby, operated by China Southern Airlines, have now increased to three per week. “Two-way investment and trade cooperation between Guangdong and Papua New Guinea will continue to grow,” he said.

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PNG Needs Deficit-Free K25bn Budget for 2026, Says Nomane