WA’s push to showcase its investment, education, job and tourism opportunities is in full swing, with CCIWA recently joining a trade mission to the UK and Europe.
The two-week mission, led by Deputy Premier Roger Cook, the Department of Jobs, Tourism, Science and Innovation and WA Agent-General for the UK/Europe John Langoulant, comprised a series of meetings to lift trade and investment flows and attract more skills to the State.
The trade mission included:
- supporting 10 WA start-ups at London Tech Week;
- meeting with potential investors and other stakeholders in sectors such as chemicals, critical minerals, life sciences, advanced manufacturing and hydrogen;
- holding conversations with skilled migration experts and others to understand how to boost skilled migrant inflows to our State and to better develop homegrown skills
- supporting the launch of WA’s office in Frankfurt;
- holding policy discussions in both Paris and Geneva focusing on tax, climate change, energy, skills and trade (including with the OECD – OCDE and International Chamber of Commerce); and
- sharing commercial and policy approaches with like-minded Chambers in Manchester and Geneva.
“The end game is to drive stronger economic growth and diversification and, ultimately, achieve higher living standards,” CCIWA CEO Chris Rodwell said.
“Western Australia leads our nation’s trade effort and relies heavily on international skilled migration and investment.
“Some of the conversations will take time to mature, but there’s no doubt that the message that WA is open for business is resonating.”
Rodwell said WA offered large-scale opportunities, a high-level skills base and strong governance in an increasingly uncertain world.
Frankfurt trade office
Minister Cook said Frankfurt will be the first spoke office established within the UK/Europe hub of the WA International Investment and Trade Office Network.
Expected to be open from January 1, 2023, the setup and operations of the Frankfurt office will be overseen by Langoulant, who is based in London.
Germany is WA’s 13th largest trading partner, with AUD $3.1 billion of goods traded in 2021. Last year, WA accounted for 17 per cent of Australia’s total trade in goods with Germany.
German direct investment in Australia was valued at $20.177b in 2021, with growing opportunities for WA in a range of sectors such as clean energy, batteries and critical minerals.
In a move long championed by CCIWA, Frankfurt is one of four new spoke offices to be established by the WA Government in 2022-23 to strengthen investment and grow opportunities within the State’s key markets. The network currently has offices located in London, Singapore, Jakarta, Shanghai, Mumbai, Dubai, Tokyo and Seoul.
Frankfurt is also an ideal location to leverage opportunities in other industry sectors such as the creative industries, information technology, telecommunications, biotechnology and life sciences, the Minister said.
For further information see investandtrade.wa.gov.au.
New flights, tourism opportunities
Meanwhile, two new international direct flights have been announced for Perth.
A new 11-hour non-stop flight from Perth to Johannesburg will start on November 1, with Qantas to operate three return flights per week — reconnecting South Africa to WA with a direct route for the first time since 2020.
Direct flights between Perth and Jakarta will start on November 30, with Qantas offering three flights per week.
In 2019, Indonesia was WA’s seventh-largest international market by number of visitors, with 38,800 visitors spending an estimated $81 million in the State.
South Africa was the State’s 14th-largest international market by number of visitors, with 20,000 visitors spending an estimated $32m in WA in 2019.
“Having direct connections to both Jakarta and Johannesburg will drive visitors to WA and increase business, investment and study opportunities from Indonesia and South Africa to Western Australia,” Premier Mark McGowan said.
It comes after the resumption of the Perth-London direct flight in May and the start of the Perth-Rome direct flight in June.
Michael Carter, head of CCIWA’s International Trade and Investment Centre, said the direct flights provided new trade and investment opportunities for businesses keen to explore new markets.
CCIWA’s International Trade and Investment Centre (ITIC) helps businesses reduce the time, cost and risk of going global. Contact the team for a free consultation on (08) 9365 7620 or via firstname.lastname@example.org.