Premier To Build On Trade And Investment Relationships In Japan And Korea

Premier To Build On Trade And Investment Relationships In Japan And Korea

Western Australia Premier Colin Barnett

Strong Trade And Investment Focus For Premier’s Official Visit To Japan And Korea

Victor P Taffa

Premier Colin Barnett will meet with Industry and Government decision makers during an eight-day official visit to Japan and South Korea, two of Western Australia’s most important economic partners.

Premier Barnett said that as well as reinforcing existing trade and investment relationships, he would be encouraging even greater involvement in developing Western Australian resources and infrastructure.

“Japan is WA’s second-biggest export market and Korea the third, so industry in both countries has a lot to gain from the continued expansion of our minerals and energy sectors and development of new export infrastructure.” Premier Barnett said.

“Last year, the combined value of the State’s exports to these markets was almost $30 Billion and companies from both countries are involved in new resources and industrial projects in WA.”

“I will be bringing a message that Japanese and Korean investment is welcome in this State and encouraging companies to take a broad view of the opportunities to secure resources for the future.” Premier Barnett said.

“These opportunities could also include developing more advanced processing and materials manufacture in WA.”

While in Japan (March 5-9), the Premier will discuss future investment plans and opportunities with senior executives of companies with interests in WA, including:

  • Mitsubishi Corporation – diverse industrial company and a partner in Oakajee project;
  • Japan Steel Mills – representing Japan’s five major steel producers; all important buyers of WA iron ore;
  • Mitsui & Co – an investor in, and customer for, Australian minerals, energy, forestry, agriculture, food and infrastructure sectors;
  • Inpex – a global petroleum explorer and producer;
  • Japan Flour Milling Association – a customer for WA grains.

Premier Barnett will meet with senior Japanese Government Officials, including Mr. Banno, Japanese State Secretary for Foreign Affairs, and address an investment luncheon organised by the Australian Ambassador to Japan.

The Premier will also attend a function hosted by the Governor of Hyogo Prefecture, Mr. Toshizo Ido, to mark the 30th Anniversary of the Prefecture’s Sister State relationship with WA.

The Premier’s first official visit to Korea (March 9-12) will also have a strong trade and investment focus.

As well as meeting with Korean Government Officials, Premier Barnett will meet with senior executives of major resources, engineering and trading companies including:

  • KOGAS – the world’s biggest LNG importer;
  • POSCO – world’s third largest steel producer;
  • Hyundai and KIA Motor Group – a conglomerate that includes Hyundai Steel;
  • STX – a global shipping operator and resources trader;
  • GS Construction – a global engineering and construction company and the prime contractor for building the Perdaman Collie coal to urea project.