For the last six years, officials from 14 member countries of the Pacific Islands Forum have been negotiating with Australia and New Zealand to set up a free trade agreement, known as PACER-Plus. The Pacific’s Chief Trade Adviser on PACER-Plus is Ghanian-born Australian, Dr Edwini Kessie, who tells Business Advantage PNG that labour mobility and the future of development assistance are two key stumbling blocks. Business Advantage PNG (BAPNG): Why is the PACER Plus agreement

An analysis of foreign workers coming to Papua New Guinea since 2000 indicates a chronic lack of skilled tradespeople, according to Lae-based business leaders. While skills training initiatives are under way, an expected surge in mining projects over the next few years highlights the urgency for more skilled workers. The number of blue collar workers coming to Papua New Guinea rose by more than 1700% in the 12 years from 2000 to 2012, aligned with

David Morris is the Pacific’s new Trade Commissioner to Beijing. He talks to Business Advantage PNG about the changing nature of China’s economy and the trade and investment opportunities for the Pacific Islands that can arise from being part of China’s new ‘Maritime Silk Road’. Australian-born David Morris is no stranger to promoting trade and investment. The 50-year-old was a senior adviser to the Tasmanian state government and managed trade and investment promotion for the

Despite some positive developments for the mining sector in Papua New Guinea, the industry continues to face funding challenges for critical exploration activity, the PNG Chamber of Mines and Petroleum’s Greg Anderson tells Business Advantage PNG. After sharing the pain of a global downturn in commodity prices during the past decade, Papua New Guinea’s mining industry has enjoyed some promising developments in recent months, according to the PNG Chamber of Mines and Petroleum’s Executive Director

Last month, Agriculture Minister Tommy Tomscoll told rice companies to start investing and producing rice in country. But, as the CEO of the country’s dominant producer tells Business Advantage PNG, Trukai has already committed to invest tens of millions of kina in rice production. The Papua New Guinea government’s new national rice policy focuses on local rice farming, reducing imports and enhancing food security, but the country’s dominant rice player has had similar plans for

The PNG Government’s decision to review the 2015 Budget has been welcomed, while another prominent economist suggests further foreign investment can be attracted by improved policy settings. The PNG Government’s move, announced by Treasury Secretary Dairi Vele, follows credit ratings agency, Moody’s, changing PNG’s sovereign credit rating to a ‘negative’ outlook, after the fall in energy and other commodities prices, royalties, dividends, and the profitability of associated companies. Vele pointed out that Moody’s has maintained

LAE NADZAB ROAD The serious rain we have experienced in the last week has caused some major flooding in and around Lae but it was particularly noticeable in the 5 and 6 mile sections of the Nadzab Road, where the contractors are currently working on forming the new 4 lane road. The mud and debris has flowed into the settlements but also Mainland Holdings numerous properties including Tablebirds Production factory, the Swiss Mission dairy farm

Trade Minister Richard Maru urged Australian and Papua New Guinean business leaders to look seriously at diversifying their areas of investments. Business Advantage PNG reports from last week’s Australia–Papua New Guinea Business Forum in Lae. Maru was addressing the 39th annual conference of the Australia-Papua New Guinea Business Council and the Papua New Guinea Business Council, held last week in Lae. It was the first time the conference was held in Lae and despite the

With the Papua New Guinea Government highlighting the need for more affordable housing in the country, not-for-profit organisation, Community Housing, believes it has the solution. Papua New Guinea has not escaped the usual spike in housing prices that accompanies major industrial developments, such as the PNG LNG project. Housing prices in PNG have risen to levels out of reach for many businesses and communities, prompting the PNG Government last year to announce plans for the

Australia’s Trade and Investment Minister, Andrew Robb, has called for a ‘collaborative approach’ with Papua New Guinea to take advantage of rising global demands for food, energy and water. In an address to the 31st Australia–Papua New Guinea Business Forum in the industrial city of Lae this week, Andrew Robb said there were close similarities in Australia’s and Papua New Guinea’s economic needs and potential which both should work to capitalise on. He later told

Ratings agency Standard & Poor’s says Papua New Guinea’s banks operate in a ‘high risk’ environment in spite of LNG revenues and increased infrastructure spending by Govenrment. S&P analysts also suggest PNG needs more policies which promote economic growth beyond the resources sector. Three banks dominate Papua New Guinea’s banking system—BSP, ANZ and Westpac. According to the latest Standard & Poor’s Banking Industry Country Risk Assessment for PNG, this limits competition and results in a

Papua New Guinea’s economy is now emerging from a period of hiatus following the completion of its massive liquefied gas project. Andrew Wilkins talks exclusively to some of PNG’s top executives to find out their views on the economy. In May 2014, Papua New Guinea achieved what some thought it would never do—it joined the exclusive club of liquefied natural gas-exporting countries. The US$19 billion ExxonMobil-led PNG LNG project, which achieved financial completion in early