The LGAQ has welcomed the Queensland Government’s new trade and investment strategy and its inclusion of a Memorandum of Understanding (MOU) between the Queensland Government and the LGAQ, which it hopes will be the catalyst for much needed funding to support the efforts of councils in this space.
The strategy was launched by the Queensland Treasurer, Hon Curtis Pitt MP, earlier this week and is set to deliver $35 million over five years, to 22 initiatives. The proposed agreement will build on the strength of regional Queensland and its stake in export and investment opportunities.
LGAQ Advocate general manager Sarah Buckler said the MOU was a good start for local government but that actions will speak louder than words when seeking to make headway into better coordinating trade and investment across Queensland, particularly in regional areas.
'We are looking forward to working with the Queensland Government through the MOU to enhance the role of local governments in driving trade and investment outcomes for the State,' Ms Buckler said.
'We are keen to see the investment behind the strategy materialise into practical support for councils to strengthen export pathways for local businesses and create environments that entice inbound investment.'
The LGAQ is calling for some of that investment to go towards a professional development program which enhances councils’ capacity to effectively engage with trade and investment sources and markets.
'Local government should be a genuine partner in facilitating trade and investment. Strategically targeting investment and coordinating and amplifying this role has the potential to make a significant difference to the state’s ability to capture global capital and generate new market opportunities.'
The strategy aims to increase Queensland’s share of exports to 22 percent and increase government-facilitated foreign investment by 20 percent. One in five Queensland jobs is currently supported by exports and foreign trade.