A HISTORIC Memorandum of Understanding was signed yesterday by the Port of Townsville Ltd (POTL) along with the Port of Qinzhou in China.
The sister port agreement paves the way for the development of significant trade and investment opportunities between the two regions.
Treasurer Curtis Pitt said the MoU with the Port of Qinzhou is the second sister port agreement for Townsville and another significant step forward in efforts to strengthen the economic and commercial bond with China.
China is already a significant trading partner for the Port of Townsville and is the largest export destination for containers and general cargo as well as significant quantities of sugar and mineral concentrates including copper, zinc and lead.
“This is a great potential jobs generator for Queensland as part of a longer-term growth strategy and shows why it was so important to retain the Port of Townsville in state ownership,” Mr Pitt said.
The minister assisting the premier on North Queensland and member for Mundingburra Coralee O’Rourke said the signing represented a significant opportunity for Townsville.
“Future trade forecasts between China and the Townsville Port anticipate significant increases in commodity exports, rice and grains over the next few years,” Ms O’Rourke said.
“Especially with a cluster of competitive modern industries taking shape insidethe Qinzhou Port Economic and Technological Development Zoneincluding petrochemical, paper making, metallurgy, electronics, energy, grain and oil processing,” she said.
“The operators of Qinzhou have expressed a desire to import agricultural products such as boxed beef, wine, dairy products and grains from North Queensland.”
POTL chief executive Officer Ranee Crosby said that the signing of the MoU with Port of Qinzhou was a historic moment in the port’s history.
“Sister port agreements are all about cementing relationships and achieving advantageous outcomes for each port,” Ms Crosby said.
“Sister ports share information around technology, operational and infrastructure improvements, environmental programs, polices and commercial facilities development,” she said.
Qinzhou Port is one of the largest southern ports in China and plays an important role in China-ASEAN cooperation as the closest free trade port to ASEAN countries.
Once the departure port of the marine Silk Road, Qinzhouis now known as China’s capital for lychees, bananas, water buffalo and oysters.
