Foreign Affairs Minister Hon. Justin Tkatchenko, has reaffirmed PNG’s commitment to constructive international engagement, open economic cooperation, and mutually beneficial partnerships.
Speaking at the 5th Papua New Guinea-European Business Forum last week, Minister Tkatchenko stressed the importance of responsible foreign investment that respects PNG laws, protects the environment, supports local employment and capacity — building, transfers technology and skills and contributes meaningfully to the long-term development aspirations of the people.
“We also encourage stronger collaboration between our private sectors, chambers of commerce, financial institutions, innovators, and entrepreneurs,” Minister Tkatchenko said while adding that the future relationship between PNG and European Union must be forward-looking, practical and ambitious.
“Together we should continue working to expand trade and investment opportunities, strengthen maritime cooperation, promote sustainable development, support regional peace and stability and address the shared global challenges confronting us all.”
Minister Tkatchenko said the forum had generated meaningful discussions on trade and investment opportunities, sustainable resource management, infrastructure development, renewable energy, fisheries, agriculture, digital transformation, climate resilience, innovation and private sector growth.
“We have seen encouraging engagement between Papua New Guinean businesses and European partners seeking to expand investment, strengthen commercial ties and explore new areas of cooperation,” he said.
He said the forum has reinforced PNG’s position as a valued development partner and an emerging economic and strategic partner within the Indo-Pacific region.
“Our country possesses enormous untapped potential. PNG is strategically located within the Indo-Pacific, endowed with abundant natural resources, fertile agricultural land, extensive marine resources, and a young and growing population eager to participate in the modern global economy” he said.
“We acknowledge that meaningful and sustainable economic growth requires strong governance, sound institutions, transparency, infrastructure connectivity, human capital development, and continued economic reform.”
He noted that the government remains committed to these priorities as part of the broader national development agenda.
He said PNG highly values the European Unions continued engagement in the country and across the Pacific Region.
“We appreciate the EU’s support in promoting sustainable fisheries, environmental protection, renewable energy, governance programs, institutional strengthening and climate adaptation initiatives,” Minister Tkatchenko said.
“We also recognize the growing importance of economic diplomacy in strengthening international relations.
He said that the forum has served as a platform for advancing commercial interests as well as creating an avenue for strengthening people-to-people connections and reinforcing the enduring relationships between PNG and Europe.