More than 300 participants from Papua New Guinea and Europe gathered in Port Moresby this week for the 5th European Union–Papua New Guinea Business Forum, aimed at strengthening economic cooperation and unlocking new investment opportunities.
Held from June 2-3 under the theme "The EU Global Gateway for Sustainable Investment, Connectivity and Growth in Papua New Guinea", the forum brought together government leaders, private sector representatives, financial institutions, development partners and investors from both regions.
Representatives from 77 companies, including 23 European businesses, attended the event, which provided a platform to deepen commercial partnerships and explore opportunities across key sectors of the PNG economy.
Discussions focused on renewable energy, water security, digital transformation, connectivity, sustainable extractive industries and agricultural value chains. Participants also took part in practical business sessions on exporting to European markets, doing business in Papua New Guinea and understanding new European Union regulations affecting trade.
Opening the forum, Prime Minister James Marape welcomed growing engagement between Papua New Guinea and the European Union and encouraged European investors to partner with PNG in developing the country's vast economic potential.
Prime Minister Marape reaffirmed the Government's commitment to sustainable and inclusive economic growth, calling on businesses from both regions to "grow together" through partnerships that create jobs, encourage investment, transfer technology and improve livelihoods.
He also stressed that Papua New Guinea remains open for business and is committed to providing a stable and predictable environment for responsible investment and private sector development.
Minister for National Planning and Monitoring Sir Ano Pala described the European Union as a trusted and strategic development partner that has supported Papua New Guinea's development journey over many years.
Speaking at the closing ceremony, Foreign Affairs Minister Justin Tkatchenko said the forum reflected the growing relationship between Papua New Guinea and the European Union.
"This forum not only advances concrete business ties but reinforces partnership in general. The EU and Papua New Guinea have evolved from development partners to strategic partners," he said.
European Union Ambassador to Papua New Guinea Erika Hasznos said the forum reflected a shared vision for sustainable development and stronger economic cooperation.
"This forum is about translating political commitments into bankable projects and building long-term, high-quality partnerships between European and PNG businesses," Ambassador Hasznos said.
The forum concluded with both sides reaffirming their commitment to strengthening trade, investment and sustainable economic growth under the European Union's Global Gateway Strategy.
