Australia, PNG develop economic cooperation treaty

Australia, PNG develop economic cooperation treaty

Australia, PNG develop economic cooperation treaty

Updated 6 December 2012, 17:50 AEDT

The governments of Australia and Papua New Guinea have developed an Economic Cooperation Treaty, as part of a move to shift the focus of the bilateral relationship from aid to trade.

The governments of Australia and Papua New Guinea have developed an Economic Cooperation Treaty, as part of a move to shift the focus of the bilateral relationship from aid to trade.

At a ministerial forum in Port Moresby the two foreign ministers Bob Carr and Rimbink Pato initialled an Economic Cooperation Treaty.

Once ratified it will commit the countries to work on trade, investment and business cooperation.

Mr Pato says it will involve a review of PNG's immigration laws to create special short-term work visas for Australians.

The PNG government will also open a consulate in Cairns in Queensland to process visas.

Senator Carr urged Australian businesses to take note of the Treaty and start partnering with businesses in PNG.