Papua New Guinea and Solomon Islands have reaffirmed their commitment to deeper economic cooperation, with business groups from both countries describing the inaugural PNG–Solomon Islands Investment Conference as the starting point for a more structured commercial partnership.
The Papua New Guinea Solomon Islands Business Council (PNGSIBC) and Solomon Islands Chamber of Commerce and Industry (SICCI) welcomed the commitment of Papua New Guinea Prime Minister James Marape and Solomon Islands Prime Minister Matthew Wale, as well as the participation of government leaders and public officials from both countries.
The conference, themed “From Opportunity to Investment – Building the PNG-Solomon Islands Growth Corridor”, was the first investment conference between the two Melanesian nations. It was designed to support the implementation of the PNG-Solomon Islands Economic Framework Agreement on Development and Economic Cooperation 2026-2030, signed in June.
The event brought together government representatives, private-sector executives, investors, financial institutions, development partners and business leaders from Papua New Guinea, Solomon Islands and the wider region to explore opportunities for increased trade, investment and economic cooperation.
According to PNGSIBC and SICCI, the strong participation demonstrated growing interest in business-to-business and business-to-government engagement, supported by strategic and sustainable policy frameworks from both governments.
Discussions focused on potential investment and commercial opportunities across infrastructure, mining, telecommunications and digital services, financial services, agriculture, fisheries, tourism, energy, resources and professional services. Youth and micro, small and medium-sized enterprise development were also highlighted.
The organisations said the two countries' geographical proximity, shared Melanesian heritage, longstanding people-to-people links and complementary economic opportunities provide a strong foundation for closer commercial relations.
Central Bank of Solomon Islands Governor Dr Luke Forau was among the speakers at the conference.
Focus shifts from opportunities to implementation
PNGSIBC and SICCI said they would build on the conference's momentum by working with governments, development partners and the private sector to advance a number of priorities.
These include increasing bilateral trade and investment, facilitating business and investor connections, supporting joint ventures and partnerships, expanding opportunities for MSMEs and local businesses, and addressing barriers affecting the movement of businesspeople, skills, goods and investment.
The two business organisations will also advocate for greater private-sector participation in major development and infrastructure projects and establish a continuing platform for dialogue between governments, investors and businesses.
They said practical measures to make it easier to conduct business between Papua New Guinea and Solomon Islands would remain a priority.
“The Investment Conference should therefore be regarded not simply as an event, but as the beginning of a stronger and more structured economic partnership between the private sectors of our two countries,” PNGSIBC and SICCI said.
A work plan is being developed to capture the conference's key outcomes and practical recommendations arising from the discussions. A report card from the Joint Organising Committee is also expected to be presented at future conferences to track progress.
SICCI Vice-Chair Gordon Denty welcomed the support provided by both governments and the private sector for a sustainable development agenda, saying the inaugural conference had exceeded expectations.
The two organisations said the next phase would focus on translating the relationships and opportunities identified at the conference into investment, businesses, jobs and sustainable economic benefits for people in both countries.
The initiative represents an effort by Papua New Guinea and Solomon Islands to move beyond diplomatic and political ties towards a more integrated economic relationship, with the proposed growth corridor providing a framework for long-term private-sector cooperation.
