Papua New Guinea Business
• Main exports: Gold, petroleum, copper, palm oil and logs.
• Main imports: Machinery and transport equipment, food and fuels.
• Main trade partners: Australia, Singapore, Japan, China and USA.
Economy
Light industry has grown steadily, mostly to meet consumer demands. Papua New Guinea's attempts to develop a tourist industry have been undermined by poor infrastructure and past political instability. The country is also subject to extreme weather and natural phenomena, including drought, flooding and earthquakes.
The government has recently stabilised the economy, which grew 3.7% in 2006, with inflation at 2.9%. In May 2007 a law was passed allowing casinos and online gambling, which is expected to boost the economy.
Papua New Guinea belongs to the Asian Development Bank and the South Pacific Commission. It is still dependent on large amounts of aid from Australia.
Business Etiquette
Office hours: Mon-Fri 0800-1630 or 1700.
Government office hours: Mon-Fri 0800-1600.
Conferences & Conventions
Business Contacts
PO Box 1621, Port Moresby, Papua New Guinea
Tel: 321 3057.
Website: www.pngcci.org.pg
Investment Promotion Authority
PO Box 5053, Port Moresby, Papua New Guinea
Tel: 321 7311.
Website: www.ipa.gov.pg
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