Australia and Papua New Guinea are planning to reset their relationship with a new treaty that aims to move the two countries onto a more even footing.
Australian MP and chairman of Canberra's treaties committee, Wyatt Roy, says the agreement will transform the links between the two countries into a strategic economic relationship.
Mr Roy says PNG has experienced 10 years of growth and that is expected to continue.
"Essentially what it is about is moving away from a development focussed relationship between Australia and PNG - one where Australia was the aid donor and PNG Government was the aid recipient. We want to mature that relationship to one of greater economic cooperation."
Wyatt Roy says the treaty is at the final stages of being ratified.
The treaty would mean the two countries would work together to improve trade, investment and business links.