Trade talks tops agenda

 By MALUM NALU

TOTAL trade between Australian and Papua New Guinea between 2011 and 2012 stands at A$5.972 billion (K13.34 billion), according to figures released by the Australian High Commission.

Australia is PNG’s biggest trading partner and this will be hot on the agenda when Australian Prime Minister Julia Gillard begins a two-day state visit to the country today.

Imports from PNG to Australia during that period were A$3.511 billion, while exports from PNG to Australia were A$2.461 billion.

Major PNG exports were gold (A$1.999 billion), crude petroleum (A41.069 billion), silver and platinum (A$342 million), and coffee and substitutes (A$53 million).

Major Australian exports were crude petroleum (A$367 million), civil engineering support and parts (A$136 million), goods vehicles (A$105 million), and meat excluding beef (A$80 million).

Australian exports of services to PNG were A$687 million, while imports of services from PNG were A$524 million.

Australia’s major service exports were professional, technical, and other business services (A4308 million), and government services (A$104 million); while imports of services from PNG were professional, technical and other business services (A$224 million), and business travel (A4139 million).

Australian’s investments in PNG stood at an estimated A$16.202 billion in 2011, while PNG’s investments in Australia were an estimated A$1.852 billion in 2011.