TOOWOOMBA and Surat Basin Enterprise has signed a formal agreement which will explore better trading relations with one of China's biggest chambers of commerce.
TSBE and the Hangzhou Chamber of Commerce yesterday signed the Strategic Cooperation Memorandum of Understanding which marks a relationship milestone between the two organisations.
Signed by TSBE executive chairman Shane Charles and HCCS in Shanghai general secretary Xiao Min at AccessChina'16, the MoU aims to "enrich their experience in serving respective sectors" through strategic co-operations and negotiations.
"The significance of it is that it's a first step," Mr Charles said.
"Although we've been talking about it for a long time, it's really a first significant step in terms of greater cooperation between the chambers of commerce where our members can start talking to us about opportunities they have between each other."
The HCCS has more than 5000 members and was established in Hangzhou, the birthplace of Alibaba which is the world's largest commerce trading platform.
"They're keen to lock up the supply chain, and that's why they want to talk to Australia about how they can secure their food in going forward," Mr Charles said.
"So to have the interest in that type of chamber of commerce with more than 5000 members interested in our region, and to sign that MoU, is really big.
"They think it's a good step in the process to have good cooperation so we're really proud to do it today."
The MoU states: "Through amicable negotiation, in order to further enhance the contacts between the sister chambers of commerce (associations), the parties wish to enter the following agreement in terms of mutual beneficial cooperation and resources integration."
The MoU, which expires in October, 2019, aims to provide services and resources matching for enterprises, strengthen the exchange of industrial information, improve organisation communication and "facilitate the communication of personnel and operations of the organisations and form a joint development situation".
Chronicle journalist Tara Miko is reporting live from the AccessChina'16. Follow her on Twitter @Tara_Miko.
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