Commissioner: PNG, Aust trade volume reaches K14.7b

 THE volume of trade between Papua New Guinea and Australia now stands at K14.7 billion (A$6.6 billion), senior trade commissioner in Port Moresby David Knapton said.

He told the Business Advantage PNG that the trade balance between the two countries is ‘actually quite even’.

Knapton said Australia is focused on making PNG feel that it is listening to opportunities that would benefit the country.

“We want to ensure that Australia is front of mind for PNG when the country is looking at its needs in terms of sourcing products, services or investment. 

“We’ll continue to assist Australian companies looking to develop business in this market in the hope that this will further support the development of the PNG economy.

Papua New Guinea is Australia’s second largest aid recipient in the order of about K1.3 billion (AU$580 million).

In terms of the coordination of funding, Knapton said: “We (Australia) are working closely with the PNG Government on the focus areas that we both agree will provide most benefit to the country. 

“These include health, education, law, governance and transport infrastructure.”

He said his predecessors had set a very good platform focusing on areas such as the resources sector to concentrate on based on the opportunities that exists in the market. 

Knapton said Australia had strong capabilities to grow the sector which will include investment and the supply of goods and services.

He said infrastructure was another area which Australia would be liaising with various state-owned enterprises to look for opportunities and ways to support them.