CCIWA will work with the State Government and industry on a range of initiatives to build Western Australia’s economic resilience following a Trade and Economic Resilience roundtable yesterday.
The meeting – held jointly between CCIWA, the Government and Chamber of Minerals and Energy (CME) – explored opportunities for the Government and business community to boost productivity and ensure WA’s economy remained the strongest in the nation.
Key themes discussed at the roundtable were:
- Supply-chain infrastructure;
- Sovereign capability;
- Market diversification;
- Energy and resource security; and
- State Government policy.
A key focus was supporting the State’s local manufacturing sector to bolster sovereign supply chain capability and facilitating the energy transition consistent with the Government’s job-creating “Made In WA” agenda.
While the State contributes almost half of the value of the nation’s exports, global pressures and uncertainty means this success cannot be taken for granted.
The WA economy has grown by 25% in the past five years, well above the national rate of just below 16%.
Following the roundtable, the Government agreed to work with CCIWA and CME to develop initiatives based on the following outcomes:
Energy
- Develop infrastructure and policy to enable renewable energy uptake at scale to deliver affordable and reliable green energy that is supported by gas.
- Use existing strengths to create a low-cost, global scale renewable energy system designed to meet our strategic industrial needs and attract industries to locate in WA.
Common-user infrastructure
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- Further identification and refinement of the required common-use infrastructure to protect and grow existing industry while attracting new projects to innovate and diversify WA’s economy.
Approvals and regulation
- Reform to accelerate and further streamline approvals.
- Consideration of pathway for priority transformative projects in specific locations or industrial zones
Workforce planning
- Ensure WA has the skilled workers needed to deliver on the pipeline of projects in the State, including for housing, hospitals, resources and renewable energy projects.
‘Business and Government on the same page’
“True progress happens when business and government are on the same page,” said WA Premier Roger Cook.
“Led by our world-leading resources sector, Western Australia has the strongest economy in the nation and is the best place in Australia to get a quality job.”
Treasurer Rita Saffioti said the roundtable was about building on WA’s strengths to ensure “we remain globally competitive, continue diversifying our economy for the future and make WA the best place in the world to do business”.
“As we navigate global economic uncertainty, it’s more important than ever that our government keeps leading the way and working hand in hand with the private sector to continue propelling this State forward,” she said.
Impact of US tariffs
CCIWA CEO Peter Cock said the impact of the US tariffs on global trade flows will hit different sectors of the WA economy in different ways, but there were opportunities to build WA’s resilience to drive growth through times of uncertainty.
“A survey of CCIWA members in May found 43% saw an opportunity in the State Government’s Made in WA agenda, though half indicated they would need assistance to capitalise on the opportunities,” he said.
“Today’s roundtable allows us to give a voice to the small and medium businesses who could be impacted, and we will take today’s findings forward with our membership.”
CME CEO Rebecca Tomkinson said: “CME welcomes the Cook Government’s initiative, and the opportunity to represent our members in consultation that seeks to support industry resilience and growth.”
“A coordinated approach to global market challenges makes sense and strengthens the argument for increasing WA’s capacity for diversification, removing regulatory and infrastructure bottlenecks, and establishing investment-friendly policy settings,” she said.
“WA is a well-established, top-tier resources jurisdiction with strong ESG credentials and a stable operating environment – but to remain globally competitive, we must continue to optimise this position through policy certainty, infrastructure readiness, and streamlined approvals.”
To be part of WA’s peak business organisation, get in touch via 1300 422 492 or [email protected].
