The FINANCIAL — The Bank of Tokyo-Mitsubishi UFJ, Ltd. has signed a Memorandum of Understanding (MOU) with the State Government of Queensland to further promote foreign investments to the State of Queensland (Queensland) in the Commonwealth of Australia (Australia).
Queensland, with Brisbane as its capital, is located in the north-east of Australia. Its proximity to Asia and political stability makes Queensland an ideal destination for foreign investments. Queensland has several core industries including mining, agriculture, and tourism. Its economy is also expected to grow as a result of increased infrastructure development and consumer consumption given a rising population.
The relationship between Australia and Japan is expected to deepen following the signing of an Economic Partnership Agreement (EPA) between both countries, especially in the area of trade and investment, according to Bank of Tokyo-Mitsubishi.
BTMU’s full banking branch operations in Australia commenced in 1985, and the bank has since supported many global corporates in their investments and growth within Australia. Through this MOU, BTMU will be able to provide stronger support to its clients who are keen to expand and invest, especially into key infrastructure projects, in Queensland.