Premier tips big trade boost from mission to China and Japan

Premier Annastacia Palaszczuk leads a trade and investment mission to China and Japan – Queensland two biggest trading partners – over the next seven days.

The Mayors of Cairns, Townsville, Whitsunday and Mackay are part of the 14-strong team accompanying the Premier.

In 2014–15, Queensland’s two-way trade with China was worth almost $18 billion, while trade with Japan exceeded $12 billion.

“That’s a massive $30 billion worth of trade in one year between Queensland and our top two trading partners,” the Premier said.

“Huge as that amount is, we want to develop our trade ties even more, with an emphasis on agriculture, education and tourism.”

Ms Palaszczuk will visit Beijing and Shanghai before travelling to Tokyo for another three days of meetings and promotions.

Besides top level business meetings, the Premier has been booked for television interviews and will promote Queensland beef and other produce working alongside top chefs in Shanghai and Tokyo.

She will also meet ‘Pepper’, a robot, at the robotics company Softbanks, which is also a leading Japanese telecommunications company.

Ms Palaszczuk said Queensland was determined to generate a new wave of trade and investment opportunities with China and Japan.

“I have a very clear and simple message – Queensland is open for business and we value doing business with them.

“With 14,000 students coming to Queensland last year, China is the largest source of international students for our highly regarded education sector.

“And with 350,000 visitors to Queensland last year, China is the second largest source of international tourists.

“The Queensland Government is actively working with the China Development Bank for the purpose of signing a new memorandum of understanding in the near future.

“And in Tokyo I will sign a memorandum of understanding with Japan’s Bank of Tokyo Mitsubishi UFJ.

“MOUs are important votes of confidence which can potentially open up numerous collaborative relationships and opportunities.

“Anticipated economic benefits from the completed Japan-Australia Economic Partnerships Agreement and the pending Free Trade Agreement with China can’t be overstated.

“I am hopeful Labor’s concerns over workers’ rights with the agreement can be resolved without delay, enabling us to seize the initiative and realise more growth and jobs from the unprecedented, freer access to the world’s biggest market.

“I am optimistic that new trade deals negotiated under the agreement have the potential to add a billion dollars or more each year to our two-way trade figures,” she said.

The trade mission will identify opportunities for both nations to invest in Queensland’s roads, rail, ports and tunnels, plus purpose-built student accommodation, and also urban renewal projects, health and knowledge precincts.

During the trade mission the Premier will also highlight the State Government’s $180 million Advance Queensland initiative to drive productivity improvements, harness innovation and translate ideas into real economic outcomes for Queenslanders.

“I want more collaboration and cooperation with China and Japan to create and incubate the industries of the future.

“Queensland has world-recognised expertise in areas such as medical science, biotechnology, robotics and tropics-related fields,” she said.

Media contact: Premier’s Office 3719 7000