Doing Business in Papua New Guinea. Foreign Trade (Imports exports)

 Educational level: Continuing education / Executive education programs.

Course summary Doing Business in Papua New Guinea

The major economic sectors in Papua New Guinea are: Agriculture and Livestock, Forestry, Mining and Petroleum, Tourism and Hospitality, Fisheries and Marine resources, Manufacturing, Retailing and Wholesaling, Building and Construction, Transport and Telecommunications, and Finance and Business Trade.

PNG's major exports are gold, silver, copper, crude oil, logs and timber, coffee, palm oil, cocoa and copra. PNG has experienced a relatively even balance of trade over the last five years, with exports marginally more than imports.

Papua New Guinea's main imports are sourced from Australia, Japan, the United States, Singapore, New Zealand, the United Kingdom, China and Hong Kong.

The main destinations of PNG exports are Australia, Japan, South Korea, China, Germany, the United States of America, the United Kingdom and Singapore.

An integral component of the Papua New Guinea Government’s industrial development strategy is the promotion of investment in Papua New Guinea. The Investment Promotion Authority, established by an Act of Parliament in 1992, is responsible for this activity. Its focus is centered on attracting new investors to the country as well as encouraging existing investors, both foreign and domestic, to expand their investment.

Telikom PNG is the largest national company owned wholly by the government of PNG responsible for providing telecommunication services to the end users all throughout the country. It has been a monopoly in the industry since 1952 with retailers selling telecommunication products and services.

Over 800 different languages are spoken by the people of Papua New Guinea. English is the official language, while Tok Pisin and Motu languages are national languages. Papua New Guinea gained independence from Australia in 1975. The capital of Papua New Guinea is Port Moresby with a population of 255,000 people.

Example of the course Doing Business in Papua New Guinea:

Papua New Guinea is member of: ACP, ADB, APEC © Asia-Pacific Economic Cooperation, ARF, Association of South East Asian Nations (observer), IBRD, ICAO, IMF, IMO, IOC, IOM (observer), MIGA, NAM, Sparteca, SPC, United Nations, UNCTAD, World Trade Organization, ESCAP, PEEC, Pacific Islands Forum (PIF), Oceania Customs Organisation (OCO)