Trade & Investment

Papua New Guinea Trade & Investment

The international position of Papua New Guinea has improved in recent years as the country continues to benefit from a number of positive trends. A stabilisation in commodity prices, strong output from the country’s major projects and an end to the El Niño drought have brought major trade indicators back into line. A lack of US dollars and the weak kina have helped as well by boosting exports and lowering imports. PNG’s balance of trade remains at or near a record high, while the current account has been positive for a number of years following a long period in the red. Prospects are good for keeping the totals at the right levels and also seeing possible improvements across the board.

This chapter contains interviews with Clarence Hoot, Acting Managing Director, Investment Promotion Authority and Steven Ciobo, Minister for Trade, Tourism and Investment of Australia; and viewpoints from Gerry Brownlee, Minister of Foreign Affairs of New Zealand and Shamshad Akhtar, Executive Secretary, UN Economic and Social Commission for Asia and the Pacific.