Shanghai Trade Office

The Hon. T.J. STEPHENS (14:34): My question is to the Minister for Trade, Tourism and Investment: can the minister share with the council news about the opening of the new South Australian trade office in Shanghai?

The Hon. D.W. RIDGWAY (Minister for Trade, Tourism and Investment) (14:34): I thank the member for his ongoing interest in trade and investment. It is an important step for the Marshall Liberal government. I was fortunate enough last Tuesday—so a week ago today—I was proud to open South Australia's new trade office in Shanghai. As a key Marshall election commitment to regain the ground in international trade, we are delivering on time, and I am sure honourable members will agree it's a great result.

The new office is the first milestone in the Marshall Liberal government's $12.8 million state budget investment to establish five new overseas trade offices. Deepening our trade relationship with China remains a clear focus for the Marshall Liberal government, and this new office ensures that we are well placed to advance the interests of South Australian businesses in China across the entire spectrum of goods and services trade. The Shanghai office complements a range of initiatives by the South Australian government to take South Australia to the world and has been specifically located within the existing Australian Trade and Investment Commission with the support and collaboration of the federal government.

Joining me at the opening was Mr Graham Meehan, the Australian Consul-General in Shanghai. I do wish to pass on my thanks to our federal colleagues for their support in this venture, and especially the team in Austrade. Together, South Australia and China have already built a remarkable trade and investment partnership based on complementary interests, vision and entrepreneurship and we are genuinely excited about the creation of our new Shanghai office to continue to build upon the momentum, particularly the ongoing implementation of the China-Australia Free Trade Agreement.

The Shanghai trade investment office will extend South Australia's network in China to cover north and east China, whilst complementing the existing office in Jinan, Shandong and also the representation we have in Hong Kong and, I might add, the wonderful representation from Ms Alice Jim who has been there a number of years and has been a very proud supporter of the South Australian government's initiatives.

We have already appointed a new country director in China, Ms Xiaoya Wei, to manage the South Australian Trade and Investment Office. Xiaoya brings a wealth of experience as the previous China country manager for the Australian business chamber in China and also Australian Wool Innovation in China. South Australia values its relationship with China, our largest two-way trading partner, our highest source of international students and one of our most valuable tourism markets.

We know that international trade boosts economic growth and household incomes. It creates and supports South Australian jobs. It gives consumers and businesses greater choice and lowers their costs. It drives innovation and boosts productivity. But, most importantly, it gives our businesses a far greater opportunity to sell their products in a global market. The record of the opposition when they were last in government shows that they were afraid and preferred to look inward. They closed overseas trade offices, which have caused us difficulties, especially in that market, but we won't be deterred.

We, on the side of the chamber, are not afraid of the outside world. We embrace it and welcome the opportunities it brings. Under a Marshall Liberal government, we will continue to fulfil our election commitments and to build on the international business relationships to grow exports, attract investments and create rewarding jobs our children deserve.