Prime Minister Hon. James Marape welcomed the Chief Executive Officer of Westpac Group, Mr Anthony Miller, to Melanesian Haus this morning for high-level discussions focused on Papua New Guinea’s Economic Outlook, key Resource Projects, and the continued partnership between the Government and the Banking Sector.

The Meeting follows the release of a recent Westpac Report highlighting positive growth projections for the PNG economy, citing improved momentum in both the Resource and Non-Resource Sectors.

Prime Minister Marape said the discussions were constructive and encouraging, reflecting growing confidence in the direction of the PNG Economy under the Marape-Rosso Government.

“I am pleased to note Westpac’s positive assessment of Papua New Guinea’s Economic Outlook. It confirms that the difficult Reforms and Policy decisions we have undertaken over the last few years are gaining traction,” Prime Minister Marape said.

The Westpac Economic Outlook identified key drivers of growth, including the progress of major Resource Projects such as the Wafi-Golpu Project and Papua LNG, as well as stronger activity in Agriculture, Fisheries, Tourism and Forestry.

Prime Minister Marape emphasized that Projects such as Wafi-Golpu and Papua LNG are critical anchors for long-term Revenue generation and Foreign Exchange stability. “Our major Resource Projects are not just about extraction; they are about securing long-term economic benefits for our country, ensuring value retention, and creating opportunities for our people,” he said. “We are determined to ensure that Papua LNG, Wafi-Golpu and other strategic Projects are structured in a way that benefits both investors and our citizens.”

Beyond the Resource Sector, Prime Minister Marape highlighted the growing contribution of the Non- Resource economy, particularly Agriculture, Fisheries, Tourism and Forestry. “For too long, our economy has been narrowly defined by large-scale extractive industries. But today, Agriculture, Fisheries, Tourism and Forestry are rising strongly, empowering our rural population and supporting inclusive growth,” he said. “This is where the real participation of our people lies — in utilising their land productively and entering domestic and export markets.”

CEO Miller reaffirmed Westpac’s commitment to supporting Papua New Guinea through financial services, financial literacy programs, and tailored banking products designed to enable citizens — especially those in Agriculture and Small-to-Medium Enterprises — to participate meaningfully in the formal economy.

Prime Minister Marape welcomed this support. “Financial Literacy and access to Banking, alongside Education are foundational to economic empowerment. I commend Westpac for working with our people — from farmers to small business owners — to ensure they are bankable and financially confident,” he said.

The Meeting also touched on Westpac’s longstanding presence in PNG, with operations in the country for over a century now, and its broader footprint across Australia, New Zealand, Fiji and the Pacific region. “Westpac has been part of Papua New Guinea’s economic journey for over 100 years. That longevity speaks to mutual trust and shared growth. We value Westpac’s contribution not only in banking, but also in sports sponsorship, community initiatives, and social responsibility programs,” Prime Minister Marape stated.

Discussions also included Westpac’s support of Rugby League development, particularly in relation to PNG’s entry into the National Rugby League (NRL) in 2028 through the PNG Chiefs franchise.

“Rugby League is part of our national identity. The PNG Chiefs joining the NRL in 2028 will open new economic, tourism, and branding opportunities for our country. We appreciate corporate partners like Westpac who see sport not just as recreation, but as economic diplomacy and national development,” the Prime Minister said.

Prime Minister Marape further highlighted Papua New Guinea’s unique geographic positioning between the Pacific and South-East Asia, noting its strategic importance in trade, logistics, and international engagement.

“PNG sits at a crossroads between the Pacific and Asia. Our geography is not a limitation; it is a strategic advantage. With the right infrastructure, financial systems and policy settings, we can become a stronger Trade Bridge between regions,” he said.

Prime Minister Marape concluded by affirming the Government’s commitment to maintaining a stable macroeconomic environment and working closely with financial institutions to drive inclusive growth. “We will continue to pursue Fiscal discipline, support Private Sector confidence, and create an enabling environment for Banks like Westpac to thrive — because when our financial institutions are strong, our economy is stronger.”

The Government looks forward to deepening its partnership with Westpac PNG in the years ahead, as Papua New Guinea advances its economic transformation agenda.