Western Australia’s booming economy may be a magnet for British firms, but the relationship between the two nations needs to be cultivated in order for each to remain competitive in the globalised world, according to British High Commissioner Helen Liddell.
In her address at a WA Business News event last week, the British ambassador highlighted the mutual benefits of Britain’s trading relationship with WA.
Mrs Liddell said Britain presented as an appealing trading partner for WA, due to its lack of red tape and its potential to be used as an entry point to the EU market. For its part, Britain was attracted to WA’s ‘battle hardened’ small-to-medium sized enterprises, which had been forced to prove themselves in distant markets.
She said there were significant opportunities for WA oil and gas exploration companies in Britain, which had a $20 billion equivalent of oil and gas deposits in its fields, as well as for companies in the engineering, accounting and geology sectors.
Mrs Liddell said education links between the two nations and a sharing of expertise were extremely important, particularly in the field of biotechnology, where joint ventures could be established.
With China increasing its research and development by 25 per cent since 2000, Mrs Liddell said it was imperative for British and Australian governments to develop access to new markets and encourage innovation.
“We’re also interested in trying to encourage technology transfer, not least in the area of clean coal technology,” she told WA Business News.
