AVESCO receives congratulates on China agreement

Australian Prime Minister John Howard has congratulated the Australian Vee Eight Supercar Company (AVESCO) on the signing of an historic sanction agreement in Shanghai today that will take the country's third most watched sport to China.

The message to AVESCO Chairman Tony Cochrane reads:

"On behalf of the Australian Government, I congratulate AVESCO and all those who have helped secure what I understand is the biggest sporting export deal between Australia and China.

"Under a five year deal, V8 racing will for the first time travel outside Australasia. This is an exciting and historic event and one which will add a further dimension to one of Australia's most important relationships.

"From the home of V8 supercar racing in Bathurst and from around Australia, Australians wish you well in the opportunities that will follow today's signing ceremony."

Mr Cochrane signed the agreement with the Shanghai Greenland Group, Shanghai's largest property developer, meaning the Australian V8 Supercar Championship Series will race at the Shanghai International Circuit for the next five years.

Mr Howard's sentiments were echoed by Queensland Premier Peter Beattie.

"I congratulate AVESCO for this imaginative and bold move which will add to our overseas reputation," Mr Beattie said.

"Make no mistake, this means export dollars and potential jobs for Australians. Today's signing ceremony is the culmination of a lot of hard work over the past two years by AVESCO, Greenland and the SIC in conjunction with the Queensland Government and Austrade.

"My Government has also committed to continuing its support for the V8 Supercar racing event and has included it in the seventh Sister-State Memorandum of Understanding with the Shanghai Government which I have just signed."

-avesco-