Papua New Guinea has renewed its call for stronger trade and investment partnerships with Europe as Prime Minister James Marape officially opened the 5th EU-PNG Business Forum in Port Moresby.
The two-day forum, held at the Hilton Hotel, has brought together approximately 400 participants, including government officials, investors, development partners, business leaders and more than 40 European companies interested in exploring opportunities in Papua New Guinea.
Opening the forum, Prime Minister Marape said Papua New Guinea is positioning itself as a key investment destination in the Pacific and is committed to creating an environment that encourages sustainable economic growth and private sector development.
He highlighted the country's vast natural resources, growing population and strategic location, while encouraging European investors to look beyond traditional sectors and explore opportunities in agriculture, renewable energy, manufacturing, fisheries, tourism, digital connectivity and infrastructure development.
The Prime Minister emphasized the Government's vision of moving the country away from simply exporting raw materials and towards greater downstream processing and value-added industries that create jobs and retain more economic benefits within Papua New Guinea.
"Our goal is to build a stronger, more diversified economy that creates opportunities for our people while ensuring that investment contributes to long-term and sustainable development," he said.
European Union Ambassador Erika Hasznos echoed the Prime Minister's sentiments, describing the forum as a significant platform for strengthening economic cooperation between Papua New Guinea and the European Union.
She said the EU remains committed to supporting Papua New Guinea's development ambitions through investment, trade partnerships and private sector engagement.
Ambassador Hasznos noted that European businesses are increasingly interested in opportunities across the Pacific and that Papua New Guinea's economic potential, natural resources and growing market continue to attract attention from investors.
"The European Union sees Papua New Guinea as an important partner. Through forums like this, we can build stronger commercial relationships, identify investment opportunities and support sustainable growth that benefits both Papua New Guinea and European businesses," she said.
The forum comes at a time when Papua New Guinea and the European Union are seeking to deepen economic cooperation through initiatives that support infrastructure development, climate resilience, renewable energy projects and improved market access.
Panel discussions throughout the first day focused on investment opportunities, economic reforms, sustainable resource development, and the role of the private sector in driving growth.
Business leaders from Papua New Guinea and Europe also participated in networking sessions and business-to-business meetings aimed at establishing new partnerships and exploring potential investments.
The event was expected to generate discussions around key sectors identified as critical to Papua New Guinea's economic future, including agriculture, fisheries, energy, digital transformation and transport infrastructure.
This was an important opportunity for government and business leaders to engage directly on challenges and opportunities facing investors while promoting Papua New Guinea as a destination for responsible and sustainable investment.
