Premier Colin Barnett is heading to Singapore tomorrow for three days to promote Western Australia.
Premier Colin Barnett is heading to Singapore tomorrow for three days to promote Western Australia.
Mr Barnett was invited to Singapore by the Minister for Foreign Affairs George Yeo and says he will use the visit to bring about a new and special relationship between the two states.
"There is a fantastic opportunity here for both our economies to benefit from closer economic ties," he said.
"Singapore and WA are naturally complementary. WA is a world-scale resources economy with enormous potential for growth, while Singapore, one of Asia's best performing economies and a major global trading centre, is rapidly expanding its role as an investment centre.
"A growing number of international investment brokerage companies are establishing a presence in Singapore, while in their own right, Singaporean businesses and government bodies hold overseas investments with a net worth of almost $500billion."
During his visit Mr Barnett will meet Singapore's President Sellapan Ramanathan, the Republic's Deputy Prime Minister Teo Chee Hean,and other key Government Ministers.
He will also address investment and industry leaders at functions hosted by the Australian Trade Commission and by the Singapore Business Federation.
See statement from the Premier below:
Raising investor awareness of opportunities to participate in Western Australia's strong economic future is the key focus of Premier Colin Barnett's three-day visit to Singapore.
The Premier was invited to visit Singapore by the Minister for Foreign Affairs George Yeo and will travel between October 5 and October 7.
"There has always been a strong bond between Western Australia and Singapore however, during this visit I am hoping to bring about a new and special relationship between our two states," Mr Barnett said.
"There is a fantastic opportunity here for both our economies to benefit from closer economic ties.
"Singapore and WA are naturally complementary. WA is a world-scale resources economy with enormous potential for growth, while Singapore, one of Asia's best performing economies and a major global trading centre, is rapidly expanding its role as an investment centre.
"A growing number of international investment brokerage companies are establishing a presence in Singapore, while in their own right, Singaporean businesses and government bodies hold overseas investments with a net worth of almost $500billion."
"As a small island city state, Singapore is strategically linked in terms of land and sea hubs."
During his visit, the Premier will meet with Singaporean government and business leaders and encourage their involvement in the development of Western Australian infrastructure and resources projects.
Mr Barnett will meet Singapore's President Sellapan Ramanathan, the Republic's Deputy Prime Minister Teo Chee Hean,and other key Government Ministers.
He will also address investment and industry leaders at functions hosted by the Australian Trade Commission and by the Singapore Business Federation.
The Premier said his visit would also reinforce strong trade tourism, education and cultural linkages between Western Australia and Singapore at a number of meetings including a breakfast of Western Australian University Alumni.
"Annual trade between Western Australia and Singapore is worth more than $5billion, and Singapore is an especially significant market and investor in for Western Australia's food production," he said.
"Western Australia is home to 30 per cent of Singapore born Australian residents, many thousands of Singaporean professionals and business leaders have studied in WA and our universities maintain strong education and research links.
"Singapore is also our second largest source of international visitors and an important investor in tourist accommodation.
"We have opportunities to strengthen these relationships and develop new partnerships in areas such as film and sport and recreation."
Mr Barnett will also inspect Singapore's new waterfront development 'Gardens by the Bay' and discuss urban planning initiatives with senior officials.
The Premier will be accompanied by Riverton MLA Mike Nahan who has done a lot of groundwork for the visit, along with two staff members.
