Australian Prime Minister Anthony Albanese has described the friendship between his country and Papua New Guinea as “mates, equals and allies”.

Speaking as the key speaker during the Leaders’ Summit at the PNG Investment week, Albanese highlighted the two country’s friendship and growing economic partnership.

He said Papua New Guinea and Australia were like two houses with one fence.

“We all benefit from a neighbourhood that is more peaceful, more stable and more prosperous,” Albanese said.

He highlighted the closeness between the two national leaders and their governments.

“That represents progress, progress that is in the interests of Australia, but also very much in the interests of Papua New Guinea,” Albanese said.

Albanese reflected on major milestones the two leaders have shared — from addressing each other’s Parliaments, to commemorating Anzac Day at Isurava, and trekking the Kokoda Track together.

“We are, of course, the nearest of neighbours… and with the signing of the Pukpuk Treaty, we are allies too,” Albanese said.

“It formalises a deep and enduring truth, we are mates. We are equals,” he said.

Meanwhile, Albanese urged investors to embrace the summit’s mission, ‘building a Pacific region that protects sovereignty, strengthens democracy, and expands prosperity’.

He welcomed the news of Qantas’ direct flights between Sydney and Port Moresby in March 2026, boosting tourism, business travel and family connections.

“At the end of the day, business-to-business relations are important, government- to-government relations are important but nothing beats people-to-people,” he said.