He said this during the 34th Australia-Papua New Guinea Business Forum and Trade Expo in Brisbane, Australia.
O’Neill said the Australia-PNG relationship is enduring and constant with Australia being the largest foreign investor in PNG underpinned by a strong bilateral trading relationship.
The Prime Minister said the economic fundamentals of PNG are sound, and that its carefully managed debt is a tool for economic management and future growth including through infrastructure development, with more than half the Government’s debt being domestic debt.
He highlighted that the government wished to empower the agriculture and tourism sectors to create greater economic diversity.
The Business Forum and Trade Expo ran from 30 April to 2 May 2018 and was attended by 402 delegates, speakers, tradebooth exhibitors and guests.
The 35th Australia-Papua New Guinea Business Forum and Trade Expo will be held at the Hilton Hotel in Port Moresby in May 2019.