Queensland Treasurer Andrew Fraser has signed a memorandum of understanding with Korea’s Jeollanam Provincial Government to work in the development of the region’s marine industry.
'This is the second marine agreement with a Korean province, following a similar MoU with Korea’s Gyeongsamnam Province in 2008,' Mr Fraser said.
'This signing has already led to commercial success for Queensland marine companies in exporting products and services to the region.
'Now, the formalisation of our relationship with Jeollanam Province will provide even more opportunities for Queensland’s marine industry to pitch for business.'
Mr Fraser said Queensland’s marine industry was internationally renowned.
'The Jeollanam Province plans to build 6 new marinas by 2019, and Queensland’s expertise in the marine industry leaves us well placed to assist in these developments,' Mr Fraser said.
'With 2011 being the Korea – Australia Year of Friendship, it is important that we continue to promote our expertise and business opportunities with this major trading partner.'
Mr Fraser today also hosted a delegation of key business leaders, emphasising Queensland’s strong links with Korea.
'My message to them was simple – despite the natural disasters we have faced, Queensland is well and truly open for business.'
Queensland’s merchandise goods exports to Korea were valued at $4.7 billion in 2009-10, accounting for almost 11 per cent of the State’s merchandise exports and making Korea the State’s fourth-largest trading partner.
Mr Fraser is on a trade mission to Beijing, Seoul, Taipei, Kaohsiung and Jakarta, supporting new growth in trade and investment partnerships and access to these key Asian markets for Queensland companies.