The Indonesian Chamber of Commerce and Industry (Kadin) and The Papua New Guinea Chamber of Commerce and Industry (PNGCCI) are organising The 2nd Indonesia-Papua New Guinea Business Forum 2024 during the PNG Prime Minister's State Visit to Indonesia on 14-15 July 2024.

The activity is a follow-up to The 1st Indonesia-PNG Business Forum which took place last year in Port Moresby during the State Visit of Indonesian President Joko Widodo to Papua New Guinea.

Chairman of Kadin Indonesia, Arsjad Rasjid in his statement said the Business Forum also conveyed the importance of capacity building cooperation between the two countries which can be done through the Indonesia Export School and encourage business cooperation between Indonesia and PNG in the mining sector, infrastructure, and other key sectors.

The Prime Minister of Papua New Guinea, James Marape emphasised the importance of building People to People and Business to Business relationships.

PM Marape's visit was accompanied by a number of PNG Ministers and dozens of PNG high-level delegates. The 2nd Indonesia-Papua New Guinea Business Forum 2024 was attended by more than 100 delegates from both countries.

Trade volumes with Papua New Guinea are growing, with Indonesian exports to Papua New Guinea reaching the highest levels in key sectors such as agriculture, mining, and manufacturing.

Based on Trademap data, Papua New Guinea's total import value has increased significantly. The import value in 2021 was around US$4.3 billion and continued to increase in 2020 to reach US$5.6 billion in 2021. Papua New Guinea's largest imports are mostly from Australia, which in the future is expected to be partially replaced by Indonesian products.