SHARON E BARNABAS
QUEENSLAND firms, lured by the significant economic growth and expansion in exploration of natural resources, are keen to pursue business opportunities in Papua New Guinea.
Australian High Commissioner to PNG Chris Moraitis said: “The PNG LNG project is expected to see continued strong growth in business opportunities for trade with PNG, especially with partners from the Queensland state in Australia”
Mr Moraitis revealed this positive outlook during the mini trade fair hosted by the Queensland government at Holiday Inn in Port Moresby yesterday.
“Many business representatives from Queensland are in PNG to look for opportunities to do business in the country,” he assured.
Australia’s trade with PNG has grown strongly, with two-way trade rising more than 50% in the last five years.
Queensland has contributed a lot to that growth.
During the period from July 2008 to June this year, Australian exports to PNG were valued at A$1.6 billion (K3.9 billion) and exports from Queensland accounted for 35% of that.
In contrast, PNG exports to Australia were valued at A$3 billion (K7 billion), 81% of which was directed to Queensland.
The fair was hosted by Trade Queensland, the Queensland government’s official export agency, in partnership with Austrade and showcased a wide range of goods and services.
It was attended by representatives from aviation, professional development, education and training, environment, composite fibre, shipping and engineering services and solutions sectors and suppliers promoting their industrial, building and automotive products.