Western Australia seeks to diversify trade basket

28 April 2010
DUBAI -- Western Australia, which has a significant stake in the UAE-Australia trade ties, is to diversify its trade basket as it gears up for a major export and two-way investment push in the Gulf region, a senior official of the country's largest state said on Tuesday.

The state, known for its vast mineral resources, commodities and education services, contributes 65 per cent to the overall Australian trade with the UAE, said Pankaj Savara, Regional Director and Trade Commissioner of the Dubai-based Western Australian Trade Office - Middle East (WATO-ME).

"Our bilateral trade with the UAE has been growing at a steady pace over the years and has clocked A$4.2 billion in 2009, out of which exports to the Emirates alone was valued at A$2.4 billion and imports A$1.8 billion," said Savara.

He said there would be significant expansion in the level of trade in the coming years with the trade basket poised to diversify from the current minerals and commodities to include exports of agri-business and food products.

WATO-ME is mandated to nurture growth in exports from Western Australia to the Middle East North Africa region with focus on the Gulf Cooperation Council countries. "Our charter is to promote trade and encourage investments both from the region to Western Australia and vice versa."

The State Government of Western Australia (WA) actively facilitates and encourages commercial, educational, investment and cultural ties between Middle East and the state of Western Australia, through WATO-ME, he pointed out in media briefing. Also present was John Arnold, advisor to WATO-ME.

"We have many Western Australian companies based in the UAE for years now and we view the trend in bilateral investments set to grow further with increasing opportunities within the region. Increasingly, thanks to the excellent transport infrastructure of the UAE, many Western Australian businesses are using the emirate as a re-export hub to the MENA and East European countries," Savara said.

"The Western Australia trade relationship is also poised for a significant diversification with a growing commerce in shipments of chilled meat, fresh vegetables and fruits, flower and live seafood," said Savara, who has introduced hundreds of Australian products and services to the region. He has organised numerous trade missions from WA to ME and held a number of investment attraction missions to WA from ME.

WA, which accounts for one-third of Australia's land mass, is the nation's best-performing state economy, driven by booming demand for natural gas and iron ore that has boosted business investment and construction. In 2009, WA received highest investment till date from all over the world.

The world's largest natural gas projects and the largest single resource natural gas project in Australia's history - The Gorgon Project is based out of WA, said Savara. The Government of Western Australia also recently hosted the Governor-General of the Commonwealth of Australia, Ms Quentin Bryce AC and her delegation on a West Australian built Dh100 million yacht -- Australis, in cooperation with the Australian Embassy in UAE. Australis, designed and built by Western Australian ship building company Austal is docked in Dubai.

He said the connectivity between Perth, the capital of Western Australia, and UAE has increased over the years. Perth is also the gateway to Australia for the Middle East and Indian Ocean countries and has less shipping distance saving around four to five days in time.

"Western Australia provides numerous opportunities and is predominantly known for its strong oil and gas and mining industries, agribusiness and education sectors. With its five world-class universities, WA became home to the highest group of students from the Middle East, in 2009," said Savara.


© Khaleej Times 2010

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