Business in Papua New Guinea

The objectives of the subject “International Trade and Business in the Independent State of Papua New Guinea” are the following:

1. To analyze the Papua New Guinean Economy and Global Trade;
2. To know the business opportunities in the Independent State of Papua New Guinea;
3. To explore the Papua New Guinean trade relations with the country of the student;
4. To know the Papua New Guinean Trade Agreements;
5. To examine the profile of Papua New Guinean Companies;
6. To develop a business plan for the Papua New Guinean Market.

The Subject “Foreign Trade and Business in Papua New Guinea” belongs to the following Online Higher Educational Programs taught by EENI Global Business School:

Masters (MIB): International Business, Foreign Trade.

Doctorate (DIB): Asian Business, World Trade.

Learning materials in or Papúa Nueva-Guinea Papouasie-Nouvelle-Guinee.

1. Credits of the subject “Foreign Trade and Business in Papua New Guinea”: 1 ;
2. Duration: one week.

Papua New Guinean Market Access and Free Trade Agreements:

1. Papua New and the Economic Area of Oceania;
2. Asia-Pacific Economic Cooperation (APEC);
3. Pacific Islands Forum (PIF);
4. Pacific Island Countries Trade Agreement (PICTA)
   1. PICTA Trade in Services Protocol.
5. Oceania Customs Organization (OCO);
6. United Kingdom-Pacific States Free Trade Agreement (Solomon Islands, Papua New Guinea, Samoa);
7. Melanesian Spearhead Group (MSG) Trade Agreement;
8. Australia-Papua New Guinea Free Trade Agreement (PATCRA);
9. South Pacific Regional Trade and Economic Cooperation Agreement (SPARTECA);
10. Association of Southeast Asian Nations (ASEAN) (observer).

1. World Trade Organization (WTO)
   1. WTO General Agreement on Trade in Services (GATS);
   2. WTO Agreement on the Application of Sanitary and Phytosanitary Measures (SPS);
   3. WTO Agreement on Technical Barriers to Trade (TBT);
   4. WTO Agreement on Preshipment Inspection (PSI);
   5. WTO Agreement on Safeguards (SG);
   6. WTO Trade Facilitation Agreement (TFA).
2. World Customs Organization (WCO)
   1. Revised Kyoto Convention (RKC).
3. International Bureau of Containers and Intermodal Transport (BIC);
4. International Civil Aviation Organization (ICAO, Chicago Convention);
5. International Maritime Organization (IMO)
   1. Convention Relating to Temporary Admission (Istanbul Convention) - not a member.
6. Customs Convention on Containers (CCC, UN) - not a member.

Asian Trade and Economic Organizations:

1. Asian Development Bank (ADB);
2. Economic and Social Commission for Asia and the Pacific (ESCAP);
3. Colombo Plan.

Global Organizations:

1. Pacific Economic Cooperation Council (PEEC);
2. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD);
   2. International Trade Centre (INTRACEN);
   3. World Intellectual Property Organization (WIPO).
3. World Bank (WB);
4. World Trade Organization (WTO);
5. International Monetary Fund (IMF).

The Independent State of Papua New Guinea.

1. Papua New Guinean Population: 7 million people;
2. Area of Papua New Guinea: 462,840 square kilometers;
3. of Papua New Guinea shares a border with Indonesia and Australia by sea;
4. The capital of Papua New Guinea is Port Moresby (255,000 people);
5. English is the official language, while Tok Pisin and Motu are national languages;
6. Over 800 different languages are spoken in Papua New Guinea;
7. Independence of Papua New Guinea from Australia: 1975;
8. Papua New Guinea is a Parliamentary Constitutional Monarchy; the Queen Elizabeth II is the Head of the Independent State of Papua New Guinea.

Main religion in Papua is Christianity: Catholicism (1.8 million) and Protestantism (3 million, 61% of the population, Methodists: 1 million).

1. In Papua New Guinea, there is a small community of Baha'i.

Papua New Guinea belongs to the Economic Area of Oceania of the Western Civilization.

Papua New Guinean Economy.

1. 33% of the Papua New Guinean population lives with less than USD 1.25 a day;
2. 85% of the population of Papua is related to the agriculture;
3. The main economic sectors of the Independent State of Papua New Guinea are agriculture, livestock, forestry, mining, Petrol, tourism, hospitality, fisheries, marine resources, manufacturing, retailing and wholesaling, building and construction, international transport, telecommunications, international finance, and trade;
4. Papua has huge natural resources (petroleum, copper, and gold);
5. The currency of Papua is the Kina (PGK).

Global Trade and Business in Papua New Guinea:

International Trade of Papua New Guinea.

1. 80% of the exports of Papua New Guinea are composed of three commodities: petroleum, copper, and gold;
2. Top exports of Papua New Guinea are gold, silver, copper, crude oil, logs, timber, coffee, palm oil, cocoa, and copra;
3. Top export markets of Papua New Guinea are Australia, Japan, South Korea, the People's Republic of China, Germany, the United States, the United Kingdom, and Singapore;
4. Top Papua New Guinean import partners are Australia, Japan, the United States, Singapore, New Zealand, the United Kingdom, the People's Republic of China, and Hong Kong.

The Government of Papua New Guinea is promoting the foreign direct investment. The Investment Promotion Authority of Papua is the agency focused on attracting new foreign investors to Papua New Guinea.

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