Papua New Guinea and Solomon Islands advance economic partnership

Papua New Guinea Prime Minister James Marape and Solomon Islands Prime Minister Matthew Wale have met in Honiara to advance an economic partnership through the inaugural Papua New Guinea–Solomon Islands Business Investment Forum.

The leaders aim to transition their long-standing political and Melanesian relationship into concrete economic outcomes by fostering business-to-business partnerships. Prime Minister Wale has invited further Papua New Guinean investment into the Solomon Islands, particularly through collaborations with local businesses and resource owners.

Existing Papua New Guinean investment in the Solomon Islands is already significant, with over K1 billion in assets and approximately 59 to 126 investments across various sectors, including banking, telecommunications, agriculture, fisheries, and hospitality. These ventures have reportedly provided employment for more than 7,500 Solomon Islanders. Both leaders identified the mining sector as a primary area for future joint investment and cooperation.