In March 2009, The Philippines and
Papua New Guinea entered into a
Memorandum of Understanding (MoU) that would enhance the cooperation between the two countries on the development of fisheries. The MoU will facilitate technology transfer in aquaculture development, promotion of shipping ventures, investments, technical training, joint research, and “strategic complementation” of each country's plans in the
Coral Triangle – or the waters between the Philippines, Indonesia, and the Pacific Islands. The fisheries trade is significantly responsible for recent overall trade growth between the Philippines and Papua New Guinea. In March 2012, the Philippine Bureau of Fisheries and Aquatic Resources started discussions with Papua New Guinea officials on the issues of access and trade. Under the proposed agreement, Papua New Guinea is willing to give fishing rights to Filipino commercial fishermen in its waters in exchange for agricultural commodities and rice. In April 2024, Foreign Affairs Secretary Enrique Manalo Jr. started mentioning closer relations between the two countries in the sectors of air services, tourism, labor, agriculture fisheries and trade. ==Diaspora==