The council aims to boost trade and investment, Minister for International Trade and Investment Richard Maru announced in a statement released.
“PNG and Indonesia are close neighbors connected by land border but have not developed the trade and investment relationship between the two countries through any structured formal relationships,” Maru said.
“We are so close, yet so far away in terms of trade and investment. For the last 49 years, our focus has been on border and security talks annually. It is time PNG develops a strong, deep, and robust relationship with Indonesia in realizing the potential of both countries in trade and investment.”
Indonesia, the world’s fourth most populous nation, boasts Southeast Asia’s largest economy. It ranks third globally in coal and nickel production (World Bank, 2024). Its success in downstream processing has created jobs and advanced technology. PNG, rich in mining, petroleum, and agriculture, lags in such investments.
“We do not have a major Indonesian investor in PNG when they are world leaders in many sectors today,” Maru said. “They have huge market and have many companies who can invest in PNG but we have never leveraged the closeness of our relationship by learning from their success and bringing their companies to invest in PNG.”
The council will connect PNG with Indonesia’s private sector. It seeks major foreign investments. Maru hopes to secure a K1.5 billion Indonesian investment soon. A Ministerial Committee, led by Deputy Prime Minister John Rosso, will support the initiative.
“Thank you to the friendship of our former and current Prime Minister and the former and current President of Indonesia,” Maru said. “They have really set the basis for us to now take our relationship to the next level. It has taken us 50 years to reach a point where we are now able to have a PNG-Indonesia Business Council.”
PNG aims to shift focus from security to commerce. The council marks a new chapter in bilateral ties.
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