The current foreign aid framework between Papua New Guinea and Australia is outdated, and needs to be fixed.
Australian High Commissioner to PNG, Bruce Davis, said this yesterday at the 2016 PNG Update in Port Moresby, adding that Australia and Papua New Guinea are no longer donor and recipient, but are now economic and strategic partners.
Minister for National Planning & Monitoring, Charles Abel, agreed that PNG’s relationship with Australia has evolved.
The Australian High Commissioner told the gathering that the current foreign aid frame does not reflect the reality of the broad bilateral relationship shared between Australia and Papua New Guinea.
He said today Australia’s investment in PNG stands at K45 billion, two-way trade between both countries amounted up to K14 billion last year, with 60% of that trade going from PNG to Australia.
He added that there are over 5,000 Australian companies that do business here in PNG.
