Austria keen on doing business with PNG

Austrian Ambassador, Elisabeth Koegler (middle) with Minister for International Trade and Investment Richard Maru (left) after the meeting this morning (Image: Supplied)

The new Austrian Ambassador, Elisabeth Koegler, has met with the Minister for International Trade and Investment, Richard Maru, this morning to express Austria’s keen interest in doing business with Papua New Guinea [PNG].

Ambassador Koegler said Austria’s area of interest to investing in PNG centered around downstream processing of forestry, solar, hi-tech industries and hydropower space.

Austria is a landlocked country in Central Europe with a population of over 9 million with high standard of living, ranking18th in the world on the Human Development Index in 2019.

Austria boasts a highly developed, export-oriented economy with strong industrial, service, and tourism sectors.

Minister Maru said PNG government is interested to work with the Ambassador Koegler and the Austrian Embassy to have more Austrian investors to come and invest in PNG.

“We want more investments in the hydro and green energy space, manufacturing, and downstream processing of forestry and building,” said Minister Maru.

Meanwhile, in terms of trade between Austria and PNG, in 2023, PNG exported US$6.3 million [above K20 million] to Austria with the main export products being processed fish, pulley systems and lifting machinery, whilst Austria exported US$1.66 million [above K6 million] to PNG with the main products being other printed materials, interchangeable tool parts and other heating machinery.