Separated only by the Torres Strait – a distance of 150 km – Papua New Guinea and Australia have translated their geographic ties into political and economic cooperation. Indeed, Australia has long been PNG’s largest export market, while also being its biggest source of imports. Australian companies are also heavily represented in PNG and around...
Occupying the eastern half of the island of New Guinea and hundreds of adjacent smaller islands, Papua New Guinea is an important exporter of metals ( particularly gold and copper) and agricultural products such as coffee and palm oil. The country is also set to become a major exporter of gas, which expected to significantly increase the size...
Vision 2050, Papua New Guinea’s long-term national development strategy, is the most ambitious planning document in the county’s history. Introduced in September 2009, the plan serves as a blueprint not only for economic development through to 2050, but also addresses social and community development, foreign policy, environmental and climate issues...
With its state motto, “Unity in Diversity”, Papua New Guinea is indeed a country with outstanding ethnic, linguistic and cultural variety, resulting from the rugged and mountainous geography of the main island of New Guinea, and the isolation of the smaller islands of the archipelago. PNG is a young nation, and its diversity has shaped efforts...
In February 2012 the Parliament of Papua New Guinea passed a bill to establish a sovereign wealth fund (SWF) for the nation. The fund is the result of more than two years of public and private sector consultation and lobbying by the government. It will be used to manage revenues from ExxonMobil’s PNG liquefied natural gas (LNG) project. The SWF is...
The People’s Republic of China (PRC) has become an active partner of Papua New Guinea in recent years, and the close ties have risen each to prominence in the other’s homeland. PNG is China’s largest trading partner among South Pacific nations, while the Asian powerhouse has climbed to second place, behind Australia, in terms of trade volume...
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×