Papua New Guinea’s prime minister announces intentions to wean off Australian asistance within 10 years
Prime minister of Papua New Guinea, James Marape, has said that he intends to end reliance on Australian assistance within a decade. Speaking in Sydney at a sold-out Lowy Institute event, Marape discussed his plans for revitalizing Papua New Guinea's economy overall, which include an overhaul of the natural resource and agricultural industries. Specifically, he plans to enter into the coffee and rice industries; he believes Papua New Guinea could position itself as the "food basket of Asia".
Australia will provide an estimated US$608 million to Papua New Guinea in development assistance this financial year; a decade from now Marape envisions his nation working with Australia as an economic peer, " looking after smaller island nations".