Perth Doing Business
With an ideal location at the edge of the Indian Ocean, Western Australia is leading the way in business with Asia. The two-hour time difference between east and west coasts of Australia means that its easier to spend a business day with Asian partners than with our fellow citizens on the other side of the country. And the distance across the continent often makes it faster and cheaper to conduct business with our Asian neighbours.
Western Australias thriving mining and farming communities contribute more than their share to the Australian economy. With just ten percent of the total population, Western Australia is responsible for a quarter of Australias exports.
The Department of Commerce and Trade provides fascinating information about business and investment in Western Australia.
Profound structural changes have taken place in Western Australias economy in the past few years. The changes are producing a widely diversified and internationalised economy closely linked to the economies of Australias Indian Ocean and Asian neighbours. The states resources industries have grown in sophistication and have led to the development, for example, of infrastructure and service industries to support them. These new industries have taken on world-class dimensions; and have led to a growing demand for an ever more highly skilled and educated workforce, which is being met by an education sector now marketing itself aggressively internationally.
The strong resources sector has itself built on the proximity of the state to Asia. Western Australias ideal location as a quality source of goods and services has become widely recognised. All these factors are contributing to Western Australias status as a quality destination for investment.ò The state has long provided a favoured location for investment to support its growth. Similarly, Western Australiahas attracted skilled people over the years to strengthen its workforce and build its population. It is increasingly characterised as a world-class supplier of manufactured goods and traded services to its neighbours and beyond. These exports range from ferries to smart cards, and from pharmaceuticals to construction and land administration skills. Much of the impetus for these industries has come from overseas interest.
The Government operates 10 offices in key international economic centres around the world. The Chamber of Commerce and Industry of Western Australia provides a wide range of services to its members. Its Policy and Research Unit formulates and co-ordinates major policy initiatives and plays a vital role as a government watchdog. Its principal arm, the Economic Research Centre, is a premier economic information unit.
All banking in Australia is controlled by the Reserve Bank of Australia, which advises the Federal Government on the maintenance of a stable economy; regul