QUEENSLAND STRENGTHENS TRADE TIES WITH KOREA’S SMART PROVINCE
Published Thursday, 03 May, 2007 at 11:00 AM
Premier and Minister for Trade
The Honourable Peter Beattie
GYEONGGI, SOUTH KOREA: Queensland Premier and Minister for Trade Peter Beattie today marked the 10th anniversary of the Queensland/Gyeonggi Province Sister-State relationship by signing an expanded action plan to grow trade and investment in a wider number of industry sectors.
The agreement was signed by Mr Beattie and Gyeonggi Governor Moon-soo Kim, with a ceremonial tree planting held to mark the occasion.
“We are Australia's Smart State and building stronger trade links with Gyeonggi – Korea's high-tech powerhouse – is a smart way to diversify trade opportunities and create more jobs for Queenslanders,” Mr Beattie said.
The Queensland Government suggested the action plan to open up trade in areas such as port and marina infrastructure.
“The $37 million Hwaseong marine project in Gyeonggi launched in January is already attracting tremendous business interest because of Queensland’s leading reputation in boat building,” Mr Beattie said.
“Queensland’s marine industries employ more than 11,000 people and contribute over $2.6 billion to the Queensland economy in 2005-06,” Mr Beattie said.
“The agreement comes at a critical time, with the United States and the Republic of Korea successfully concluding free trade negotiations last month.
“This resigning of the Sister State relationship will help counter the impact of the Free Trade Agreement on Queensland industry, particularly the beef industry.
“While it is expected Australian beef exports to Korea will decline, this agreement should help Queensland exporters maintain a strong foothold in Korean market worth $389 million to Queensland beef producers in 2005-2006.
“Through the action plan we will also hold joint business and trade shows over the next 24 months which will go a long way to bring states' businesses and industries closer together.
“There will also be opportunities in biotechnology, building and construction, information and communications technology, resource technologies and seafood, as well as creative industries including fashion design and the arts.”
Mr Beattie, on the second leg of a three-nation business and investment mission, said Queensland’s Sister State Agreement with the Province of Gyeonggi signed back in 1997 and an action plan in 2000 have been largely dormant due to regional economic flux.
“During this time Queensland has continued the exchange of agricultural experts with Gyeonggi and also provide English language training to about 90 provincial officers at our universities, contributing more than $220,000 in export earnings,” he said.
“Today’s expanded 2007-09 Queensland-Gyeonggi Action Plan paves the way for many other trade opportunities.
“It also represents an important step in strengthening our Sister State relationship with this important trading partner and neighbour.”
Mr Beattie said Queensland exported more than $4 billion worth of goods and products to South Korea in 2005-06.
“Korea, Queensland's second largest export market, has a growing appetite for our traditional exports as well as new ones, and today's announcement shows are our industries are ready and willing to deliver.”
Media Contact: Premier’s Office 2334 4500
3 May 2007
The agreement was signed by Mr Beattie and Gyeonggi Governor Moon-soo Kim, with a ceremonial tree planting held to mark the occasion.
“We are Australia's Smart State and building stronger trade links with Gyeonggi – Korea's high-tech powerhouse – is a smart way to diversify trade opportunities and create more jobs for Queenslanders,” Mr Beattie said.
The Queensland Government suggested the action plan to open up trade in areas such as port and marina infrastructure.
“The $37 million Hwaseong marine project in Gyeonggi launched in January is already attracting tremendous business interest because of Queensland’s leading reputation in boat building,” Mr Beattie said.
“Queensland’s marine industries employ more than 11,000 people and contribute over $2.6 billion to the Queensland economy in 2005-06,” Mr Beattie said.
“The agreement comes at a critical time, with the United States and the Republic of Korea successfully concluding free trade negotiations last month.
“This resigning of the Sister State relationship will help counter the impact of the Free Trade Agreement on Queensland industry, particularly the beef industry.
“While it is expected Australian beef exports to Korea will decline, this agreement should help Queensland exporters maintain a strong foothold in Korean market worth $389 million to Queensland beef producers in 2005-2006.
“Through the action plan we will also hold joint business and trade shows over the next 24 months which will go a long way to bring states' businesses and industries closer together.
“There will also be opportunities in biotechnology, building and construction, information and communications technology, resource technologies and seafood, as well as creative industries including fashion design and the arts.”
Mr Beattie, on the second leg of a three-nation business and investment mission, said Queensland’s Sister State Agreement with the Province of Gyeonggi signed back in 1997 and an action plan in 2000 have been largely dormant due to regional economic flux.
“During this time Queensland has continued the exchange of agricultural experts with Gyeonggi and also provide English language training to about 90 provincial officers at our universities, contributing more than $220,000 in export earnings,” he said.
“Today’s expanded 2007-09 Queensland-Gyeonggi Action Plan paves the way for many other trade opportunities.
“It also represents an important step in strengthening our Sister State relationship with this important trading partner and neighbour.”
Mr Beattie said Queensland exported more than $4 billion worth of goods and products to South Korea in 2005-06.
“Korea, Queensland's second largest export market, has a growing appetite for our traditional exports as well as new ones, and today's announcement shows are our industries are ready and willing to deliver.”
Media Contact: Premier’s Office 2334 4500
3 May 2007