Strong complementarities between China and Queensland are key to growing trade links, a new report says.
Trade and Investment Queensland, the trade arm of the state government, has just published its Queensland–China Trade and Investment Strategy 2025.
State trade minister Ros Bates said while the global trading environment had its challenges, it also presented opportunities.
“This strategy is a timely opportunity to provide a pathway to navigate these and other global economic challenges,” Ms Bates said.
She noted the strategy identified business opportunities in areas such as food and agribusiness.
“This strategy also recognises the critical role of innovation, regional engagement and growing consumer markets,” Ms Bates said.
“Importantly, this strategy reflects Queensland’s commitment to strong and enduring partnerships across China. It positions Queensland businesses to capitalise on complementary strengths and shared aspirations for sustainable growth, innovation and prosperity.”
The document references the China – Australia Free Trade Agreement (ChAFTA), the Australia – Hong Kong Trade Agreement (A-HKFTA) and the Regional Comprehensive Economic Partnership (RCEP).
“Against the backdrop of an increasingly uncertain and protectionist world, China now aims to position itself globally as an ‘anchor of stability’, seeking to counterbalance increased tariff regimes by presenting itself as a stable force committed to free trade,” the strategy document states.
“China is keenly aware of the need to bolster its exports to help address a reduced market for its goods arising from tariff measures and is proactively seeking to enhance trade ties with the United Kingdom, Europe, Southeast Asia, Korea and Japan.”
According to the strategy document, Queensland was “well-placed” to meet Chinese demand for food and consumer health products.
“These trends highlight the increased importance of Queensland exporters developing a nuanced strategy in relation to the market,” it stated.
“Strategies that target younger and/ or older consumers; that include a focus on second, third, or fourth tier cities; and/or engagement through e-commerce or digital platforms, will likely maximise the benefits to be derived.”
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