The new Austrian Ambassador, Elisabeth Koegler, has met with the Minister for International Trade and Investment Richard Maru, to express Austria’s keen interest to do business with Papua New Guinea (PNG). Ambassador Koegler said Austria’s area of interest in investing in PNG was in downstream processing of forestry, solar, hi-tech industries and hydro. Austria is a landlocked country in Central Europe with a population of over 9 million. It is one of the wealthiest countries in the world, with a nominal per capita GDP of over US$40,000 (2018 est.) and the country has developed a high standard of living, ranking18th in the world on the Human Development Index in 2019. Austria boasts a highly developed, export-oriented economy with strong industrial, service, and tourism sectors. The country benefits from its strategic location at the heart of Europe, serving as a key trade and logistics hub between Western and Eastern Europe. With a well-educated workforce and high levels of innovation, Austria is home to strong industrial firms in machinery, automotive parts, and pharmaceuticals, while Vienna serves as a financial center for the region. In terms of trade between Austria and PNG, in 2023, PNG exported US$6.3 million to Austria with the main export products being processed fish, pulley systems and lifting machinery, whilst Austria exported US$1.66 million to PNG with the main products being other printed materials, interchangeable tool parts and other heating machinery. Minister Maru expressed his interest to work with Ambassador Koegler and the Austrian Embassy to have more Austrian investors to come and invest in PNG. “We want more investments in the hydro and green energy space, manufacturing, and downstream processing of forestry and building,” said Minister Maru.