China growth creates export opportunities for Qld businesses

China’s ongoing economic expansion and burgeoning middle-class are sustaining strong demand for Queensland exports, Australian Government Minister for Trade, Warren Truss said.

Mr Truss, who was speaking at the Brisbane launch of Business Club Australia’s program for the Beijing 2008 Olympic Games, said China is now Australia’s second-largest trading partner, with two-way trade valued at more than $50 billion.

“China’s growth is fueling demand not only for our resources but increasingly for a broad range of Australian goods and services, driving our trade relationship to record levels,” Mr Truss said.

“Australia has many of the things that China needs to continue its rapid economic growth - from abundant natural resources, management know-how, the right mix of workforce skills, to a business culture that is always looking for new ways to improve.

“The rising aspirations and prosperity of China’s middle-class is creating a market for lifestyle and consumer products currently valued at more than $1 trillion. This is opening up tremendous opportunities for local businesses in a sector where Australia already enjoys a strong country brand,” he said.

China is set to become the world’s third-largest economy later this year and will remain a significant trading partner for the foreseeable future. The Australian Government is currently negotiating a Free Trade Agreement (FTA) with this rising economic superpower.

“An FTA with China will provide a framework for us to manage and expand our commercial relationship, helping to expand economic growth, job creation, and higher living standards in both countries.”

Mr Truss said that the Australian Government is ensuring that local businesses have the assistance they need to win business in China.

“Austrade’s expanded network in China now offers market and industry advice in 14 locations, including key second-tier cities such as Hangzhou and Nanjing.”

About BCA’s Beijing 2008 program

Mr Truss tonight launched Business Club Australia’s program for the Beijing 2008 Olympic Games which provides Queensland companies with the opportunity to leverage the global business audience generated by the Games to build long-term international business partnerships.

“Business Club Australia offers an excellent opportunity, attracting the right mix of people which ensures businesses achieve tangible outcomes,” Mr Truss said.

Australian businesses are playing an important part of China’s preparations for next year’s Games, including Brisbane-based Anti-Wave, which is supplying equipment for the National AquaticsCentre.

For more information, visit www.businessclubaustralia.com.au

Media Inquiries: Minister Truss' office 02 6277 7420 - Departmental Media Liaison 02 6261 1555