DistantNews
Support us
Day 1 of the 5th EU - Papua New Guinea Business Forum
🇵🇬 Papua New Guinea /Economy & Trade

Day 1 of the 5th EU - Papua New Guinea Business Forum

From Post-Courier · () English

Summarized and contextualized by DistantNews.

At a glance

News Official statement New plan
  • Over 300 participants from Papua New Guinea and Europe attended the 5th EU-Papua New Guinea Business Forum in Port Moresby.
  • The forum focused on sustainable investment, connectivity, and growth, with a key announcement of the Water Wise Communities Project.
  • The Water Wise project will provide potable water to 400,000 people through a EUR 25 million loan and a EUR 16.4 million grant.

More than 300 delegates from Papua New Guinea and Europe convened in Port Moresby for the 5th EU-Papua New Guinea Business Forum. The event, themed “The EU Global Gateway for Sustainable Investment, Connectivity and Growth in Papua New Guinea,” brought together representatives from 77 companies, including 23 European firms.

The forum facilitated over 170 business-to-business and business-to-government meetings. Prime Minister James Marape opened the event, emphasizing his vision for sustainable and inclusive development and urging European and Papua New Guinean businesses to collaborate. EU Ambassador Erika Hasznos reiterated the EU's commitment to strengthening trade and investment partnerships through the Global Gateway initiative.

The EU Global Gateway for Sustainable Investment, Connectivity and Growth in Papua New Guinea.

— Theme of the ForumThe theme of the 5th EU-Papua New Guinea Business Forum highlighted the focus on sustainable investment and growth.

A significant outcome of the forum was the announcement of the Water Wise Communities Project. This new Global Gateway investment includes a EUR 25 million concessional loan from the European Investment Bank, complemented by a EUR 16.4 million grant from the EU. The project aims to deliver a steady supply of potable water to an additional 400,000 people across Papua New Guinea.

Discussions throughout the day explored business opportunities in renewable energy, safe water, digital transformation, connectivity, and sustainable extractive industries. The second day's agenda includes site visits to Global Gateway projects, discussions on agriculture value chains, and practical sessions on exporting to the EU market and conducting business in Papua New Guinea.

grow together

— James MarapePrime Minister James Marape called on European and Papua New Guinean businesses to 'grow together' during his opening remarks.
DistantNews Editorial

Originally published by Post-Courier. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

More Stories

From Our Blog