introduction & welcome 11
Message from the Premier of Queensland
Campbell Newman , Premier of Queensland
On behalf of the people and government of Queensland , I extend the warmest welcome to delegates to the 2014 G20 Summit to be held in the State ’ s capital , Brisbane . We equally welcome the summit of the G20 Finance Ministers , which will be held in the beautiful tropical city of Calms . I am delighted that Queensland has been chosen as the destination for these important summit meetings .
The Australian economy is expected to be the best performing major advanced economy in the world in the next two years , the International Monetary Fund predicted in April , 2012 .
Queensland ’ s economy is expected to grow by 4 % in the current financial year to June 30 2013 , and to continue to grow at a rate of 4 % for four years thereafter . That would restore Queensland to the position of top economic performer among the Australian states . The Queensland Government will do all in its power to ensure that occurs .
The State ’ s prosperity is based on four pillars - agriculture , resources , tourism and construction .
Agricultural and resources exports are major contributors to our economic health and have been for many years .
Gross state product exceeds $ 250 billion in the financial year to June 30 2011 , and merchandise exports contributed roughly 20 % of that total .
Resources exports are the most important by value , accounting for more than half the total .
The State is about to benefit from a new industry , an LNG export industry based on abundant reserves of coal seam methane gas . Three LNG projects are under construction at the central
Queensland port of Gladstone , involving a total investment of $ 58.9 billion . First shipments are scheduled for 2014 . A fourth project is undergoing approvals processes .
The Australian economy is expected to be the best performing major advanced economy in the world in the next two years
Boosted by these projects , business investment in the State rose by 56 % in the year to March 30 2012 . At that time , projects under construction were valued at about $ 102 billion , while investments worth a further $ 59 billion were being considered .
This great resources industry has spawned an internationally renowned mining services and technology sector whose products and services are to be found in mines and processing plants throughout the world .
The Queensland agriculture industry accounts for nearly one-quarter of
our exports . Major commodities are beef , sugar and horticulture . The State Government ’ s vision is to double food production by 2040 as world demand continues to rise , fuelled by rising living standards , particularly in Asia .
Good agriculture is based on innovation , which is fostered by research and technology . The Queensland Government will promote agricultural sciences and invest in infrastructure like dams and water supply , transport and ports .
A robust construction sector depends upon the strength of the other three pillars and we are boosting the tourist industry , just as we are facilitating the growth of resources and agriculture .
We believe that our tourism industry can achieve higher goals than it has done in recent times . According to Tourism Queensland , it generates about $ 17 billion a year , directly and indirectly . We will develop and implement a 20 year strategy for the industry , which is underpinned by great natural beauty , a benign climate and friendly , hospitable Queenslanders who come from many different cultures .
Delegates to the 2014 G20 Summits will have the opportunity to experience the vast range of possibilities , both tourist attractions and business opportunities that our great State has to offer You will be most welcome at events which , in November 2014 , will be an outstanding success and a showcase for Queensland ’ s excellence in so many fields .