State, local governments unite to boost Queensland’s trade and investment

The Palaszczuk Government has formalised an agreement to work with the State’s 77 local councils to boost Queensland’s trade and investment.

Premier and Minister for Trade Annastacia Palaszczuk and Local Government Association of Queensland President Mark Jamieson said the Memorandum of Understanding (MOU) between the Queensland Government’s global business agency, Trade and Investment Queensland, and LGAQ would give small and medium businesses greater support to expand into international markets.

“We are also keen to make sure regional councils are well-equipped to identify and promote regional investment opportunities,” the Premier said.

“Local governments understand the positive impact that export success and investment can have on local economies. By working together, we can further strengthen Queensland’s export performance.

“Queensland exports are booming.  When my Government came to office, Queensland export revenue was falling.  For the 2014 calendar year, Queensland exports were $44.3 billion – a reduction of $370 million over the previous 12 months.

“In 2017, Queensland has posted a record $69.6 billion – an increase of more than $16.9 billion over the 2016 record and $25 billion more than 2014, the last full calendar year of the former LNP Government.”

“As a result, we are seeing councils organising more trade missions and facilitating inbound investment opportunities.

“The aim of this MOU is to improve support and coordination of state and local trade and investment activities, such as trade missions, and to provide help to regional councils, including training, cultural understanding, and in-market support when travelling overseas or hosting inbound investment delegations.

“This builds on other regional initiatives being rolled-out through the Advancing Trade and Investment: Queensland Trade and Investment Strategy 2017-2022.

“These include the opening of a North Queensland office in Townsville; export and investment training for regional SMEs and the development of dedicated Trade and Investment Regional Action Plans, to address a range of regionally-specific trade and investment issues through the development of targeted local initiatives.

“In particular, we have worked closely with LGAQ during the consultation period, and this will help inform the final plans when they are released.”

Ms Palaszczuk said that through the Government’s commitment Trade and Investment Queensland would provide funding for an experienced mentor, or mentors, who would provide practical advice on regional trade and investment attraction strategies and in leading and managing delegations.

“We will also support to a specially designed trade and investment professional development program for councils,” Ms Palaszczuk said.

“For its part, the LGAQ has recently hired a senior trade and investment advisor to work with the State’s 77 local councils and with TIQ.”

LGAQ President and Sunshine Coast Mayor Mark Jamieson said local councils had a deep knowledge of their local economies and how they could benefit from more and better trade and investment activities.

“They know which local businesses want to export or have the capacity to expand into overseas markets,” Mayor Jamieson said.

“They understand the importance of being on the front foot in attracting investor interest in their regions which means competing in the global market using all the tools and resources they can muster.”

The MOU will result in stronger collaboration with the State Government in promoting and coordinating trade and investment opportunities. That collaboration will mean better economic outcomes for local communities and businesses.

The MOU is one of the key initiatives of the Advancing Trade and Investment: Queensland Trade and Investment Strategy 2017-2022, launched by the Queensland Government last year.

The strategy aims to increase the state’s share of national overseas exports to 22 per cent and boost the number of Queensland Government-assisted investment outcomes by 20 per cent by 2022.

Media contact:

Geoff Breusch 0417 272 875