Chengdu trade office opens for business

The Palaszczuk Government is continuing its push to increase trade ties with Asia, with Queensland’s newest trade office now operational in Chengdu, China, within just one month of its announcement.

Deputy Premier and Minister for Trade and Investment Jackie Trad said an office in Chengdu would offer significant opportunities for Queensland firms, particularly in tourism, agriculture, education and the mining sector.

“The Premier and the Sichuan Governor specifically discussed opening and a trade office in Chengdu during the Premier’s trade mission in April,” Ms Trad said.

“An office in Chengdu is extremely important for Queensland given Sichuan is the fourth largest province in China in terms of population, with an economy worth $600 billion.

“The province is regarded as the business hub for Western China as well as a manufacturing and innovation centre, which produces 20 per cent of the world’s computers and is the third-largest destination in China for big global companies after Beijing and Shanghai.

“Chengdu has a reputation for being China’s Silicon Valley and we will be exploring opportunities to collaborate on Advance Queensland initiatives to nurture talent and provide Queensland innovators with an international experience.

“We are also negotiating with Sichuan Airlines to secure direct flights between Chengdu and Queensland, which will increase the number of visitors to our state for tourism and business purposes.

“Having a trade office in Chengdu will allow us to continue to attract new investment opportunities for agribusiness, the biotechnology industry and infrastructure projects.”

Ms Trad said with an estimated 440,000 – or one in five – Queensland jobs supported by exports and the number of Queensland exporters now exceeding 7,000 businesses, the importance of trade to Queensland’s economy could not be overstated.

“The Queensland trade sector is expected to drive overall economic growth in Queensland this financial year, with the volume of overseas goods and services exports forecast to grow by 11 per cent and 8 per cent respectively as the state’s LNG projects ramp up production,” she said.

“In addition, our services exports, led by tourism and education, are expected to experience substantial growth in 2016-17, driven by a combination of the lower Australian dollar exchange rate and the expanding middle class in Asian nations, notably China.”

Ms Trad also revealed the State Infrastructure Plan had been translated to Chinese to encourage investors in China to invest in Queensland projects and better understand the pipeline of infrastructure under development.

“This Chinese language version of the State Infrastructure Plan will assist Chinese investors in understanding the scope of our planned projects and allow the Queensland Government to work more closely with Chinese private investors and state-owned enterprises.”

Ms Trad will officially open the new office in November when she visits China and Vietnam on a trade mission.

The office will be run by the state’s global business agency, Trade and Investment Queensland (TIQ), which is driving a whole-of-government strategy to ensure that Queensland’s trade and investment efforts are coordinated and focused to achieve maximum economic benefit for the state.

The opening in Chengdu marks TIQ’s fourth office in mainland China, with others located in Shanghai Beijing and Guangzhou.

The Palaszczuk Government will also open a new trade office in Singapore by the end of the year, expanding TIQ’s international footprint to 15 locations in 12 different markets.

ENDS

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