Commonwealth Games To Reap Gold For QLD Trade

09.10.2017 Kate Jones
Commonwealth Games To Reap Gold For QLD Trade

Queenslanders will welcome more than 6,600 leading athletes and team officials from 70 nations and territories to the Gold Coast 2018 Commonwealth Games. Our Games will attract 1.5 million spectators and a global television audience of 1.5 billion. It will be the biggest sporting spectacle in Australia for more than a decade.

An event of this scale opens up exciting opportunities for the Gold Coast and Queensland to engage with new international business partners. It is a once-in-a-lifetime opportunity to showcase all that our state has to offer. 

For this reason, we have launched a new initiative – Trade 2018 – to strengthen our trade and investment ties with Commonwealth nations.

The Queensland Government wants to identify business opportunities, grow exports and attract investment from overseas markets, including the United Kingdom, Canada, India, Malaysia, Singapore, Papua New Guinea and New Zealand. We actively target these priority markets as the Queen’s Baton Relay as it makes its way around the Commonwealth.

During the Gold Coast 2018 Commonwealth Games, a parallel program of trade and investment activities will occur at Commonwealth House, our new purpose-built international trade and investment hub in the heart of the Gold Coast.

I encourage all businesses to get on board and actively explore trade and investment opportunities with our Commonwealth partners. We want the world to know that Queensland is open for business. The Games and Trade 2018 is a unique opportunity to build on our already strong ties with trading partners in international education, renewable energy and tourism, to name a few, and to develop new global value chains.

We want the Games and Trade 2018 to deliver a positive legacy for Queenslanders. The Games is set to become one of our greatest sporting success stories and we want benefits to flow to communities and businesses.

Queensland’s strong trading relationship with Commonwealth countries has real potential for growth. Two-way merchandise in 2015-16 was almost $16 billion, with Queensland’s $9.6 billion of sales to member nations – dominated by non-ferrous metals, coal, meat, medicinal and pharmaceutical products and fruit and vegetables – accounting for 20 per cent of the state’s total exports for the year.

Imports from Commonwealth nations in 2015-16 totalled $6.2 billion, accounting for 15.5 per cent of the state’s total imports for the year.

The Gold Coast 2018 Commonwealth Games is an exciting opportunity for the Gold Coast and Queensland. It will transform the Gold Coast into a truly boutique city of international standing and will drive and deliver economic benefits in Queensland and across the Commonwealth.
*This article was first published on pages 28-29 of Winter 2017 International Business Today Magazine.

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