Austria has signalled a growing interest in strengthening economic ties with Papua New Guinea, focusing on high-value sectors such as green energy, forestry processing, and advanced technology.
This was revealed during a meeting between Austria’s new Ambassador, Her Excellency Elisabeth Koegler, and PNG’s Minister for International Trade and Investment, Hon. Richard Maru, on 7 May in Port Moresby.
Koegler emphasized Austria’s intention to explore investment opportunities, particularly in downstream processing of timber, as well as solar energy, hydroelectric development, and hi-tech industries.
A Central European nation with over nine million people, Austria is known for its robust, export-oriented economy and strong industrial, service, and tourism sectors.
The country has one of the world’s highest standards of living, ranking 18th globally on the Human Development Index in 2019, and benefits from its strategic location as a trade bridge between Western and Eastern Europe.
With its innovative manufacturing base, Austria specializes in producing machinery, automotive components, and pharmaceuticals. Vienna, the capital, also serves as a regional financial center.
Current trade between the two nations remains modest. In 2023, PNG exported approximately US$6.3 million worth of goods to Austria, including processed fish and industrial equipment, while Austria exported US$1.66 million to PNG, consisting mainly of printed materials, machine parts, and heating systems.
Minister Maru welcomed the dialogue, saying PNG wants to push increased foreign investment in sustainable industries.
“We want more investments in hydro and green energy, manufacturing, and the downstream processing of forestry and building materials,” he stated.
