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Publish Date : 23-Jul-2013

The Newman Government has today signed an agreement with the Export-Import Bank of Korea (Korea EximBank), which will enhance opportunities for overseas investment in Queensland.

Speaking at a Queensland Government reception in Seoul, Treasurer and Minister for Trade Tim Nicholls said the agreement was a great achievement.

"What this means for Queensland is that the State has been endorsed by a major overseas bank as a reliable business partner and investment destination," Mr Nicholls said.

"This agreement is testimony to the confidence that overseas investors are placing in the State's economy."

Mr Nicholls, who signed the agreement on behalf of the Newman Government, said the document outlined investment collaboration opportunities in the infrastructure and resources sectors.

"A major part of this Trade Mission is to reinforce the State's credentials as a stable business environment and a safe-haven for investment," he said.

"The Korea EximBank is an official export credit agency providing comprehensive export credit and guarantee programs to support Korean enterprises in conducting overseas business.

"As we work to repair the State's finances and regain our AAA credit rating, agreements with major financial institutions, such as Korea EximBank, will continue enhancing the State's global economic credibility."

Mr Nicholls is currently looking for a new wave of opportunities for two-way trade, leading a group of industry representatives to Seoul, Guangzhou, Hong Kong, Jakarta and Singapore from 20 July to 3 August.

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