MEDIA STATEMENT: A Fresh Start for Queensland: Crisafulli Government acts to strengthen ties with key trade partners

A Fresh Start for Queensland: Crisafulli Government acts to strengthen ties with key trade partners

• Government will embark on trade mission to Japan and Korea to bolster Queensland’s $112.8 billion trade and investment market and strengthening ties with key trade partners.
• Trade Minister to meet key partners in the Japanese and South Korean metals, coal, gas and beef industries to help drive further jobs for Queenslanders.
• Engagement with industry partners and government representatives in both countries across resources, renewables and bio and health sectors.
• Minister to visit and view the World Expo 2025 Osaka site, where Queensland will join the Australia Pavilion as gold partners from April next year.

The Crisafulli Government will bolster trade ties with two of Queensland’s most critical trade partners, Japan and South Korea, with a trade mission next week.

The Premier has tasked the Trade Minister to conduct the mission which will include 25 trade meetings across five days covering the two countries, to shore up investment in the state, including with business heavyweights ENEOS, Nippon Steel and POSCO International in Tokyo, Osaka and Seoul.

The two countries account for more than $31.5 billion of exports in the 12 months to September 2024, equating to 28 per cent of Queensland’s overall $112.8 export market.

Minister for Finance, Trade, Employment and Training, Ros Bates said the trade mission was part of the Crisafulli Government commitment to growing the State’s economy, driving down cost pressures for Queenslanders.

“The Crisafulli Government will invest in Queensland’s future, grow our economy and boost productivity to ease cost pressures on Queensland businesses and lock-in local jobs,” Minister Bates said.

“Japan is Queensland's second-largest export destination with $16.9 billion of exports in the 12 months to September 2024, primarily driven by coal, gas and beef. 

“Australia exported $1.2 billion of beef to South Korea in 2024, which is 45% of their imported beef market.

“These trade partners deliver vital support for our economy and growing our trade relationship is critical to the future success of our State. “These numbers reveal why it’s important that the Queensland Government continues to forge our great relationships.”

• Korea is Queensland’s fourth-largest export destination with $14.6 billion in 12 months to September 2024, also led by coal, beef and LNG exports.
• Tourism from Japan and Korea is also growing, with 158,000 Japanese visitors to Queensland in the year ending June 2024 and 102,000 Korean visors in the same period. 

ENDS

MEDIA CONTACT: Justin Armsden 0417 518 532