Carpenter opens trade office in Los Angeles

Western Australia's first Trade and Investment Office in the United States was opened today in Los Angeles by state development minister, Alan Carpenter.

Mr Carpenter, currently leading a trade and investment delegation to the USA, said the new office was a key election commitment in the Gallop Government's plan to expand WA's strong international trading reputation.

"The establishment of the new Trade and Investment Office will enable WA to capitalise on the Australia-United States Free Trade Agreement and the ensuing broadening of bilateral trade," he said.

Mr David Doepel, a Western Australian who has lived in the US since 1987, has been appointed as the regional director for the new office.

The Minister said WA already had a well-established trade and investment relationship with the United States.

"The US is our fifth largest trading partner, with two-way trade valued at about A$3billion a year," he said.

"It is already a major export destination for our resources, taking about A$440million of minerals and petroleum in 2004 and represents our seventh largest export market totalling close to A$1.5billion in 2004-05.

"The US is also our biggest source of imports and is our largest source of foreign investment."

A memorandum of understanding (MoU) to establish the California-Western Australia Business Forum was also signed as part of the Trade Office launch.

The MoU, between the California Commission for Economic Development and the State Government of Western Australia, was signed by Mr Carpenter together with the Chair of the Commission, California Lieutenant Governor Cruz M. Bustamante.

Mr Carpenter said the new Business Forum would play a vital role in promoting and increasing trade between California and WA.

The Business Forum will also:

provide supportive services to trade delegations from California that are visiting WA and trade delegations from WA that are visiting California;
develop a referral system to enable public and private entities in California and Western Australia to exchange information related to trade, commerce and economic development opportunities of mutual interest; and
develop a directory of both WA and Californian trade-related governmental agencies, organisations and businesses for distribution to WA and Californian companies.
Mr Carpenter said the establishment of the Trade Office and the new Business Forum would provide great opportunities for advancing trade and investment, including meeting the growing need for energy on the west coast of the USA.

"WA has some of the biggest gas reserves in the world," he said.

"We have been a reliable supplier of liquefied natural gas (LNG) to a number of countries for many years; and we have American and Australian companies lining up to develop LNG projects for shipment to California.

"If current economic and environmental challenges can be overcome, I think we will see the start of a long-lasting and valuable partnership in energy."

The Minister said WA's future prosperity relied heavily on the success of building and diversifying the State's export markets around the world.

"As a result of the State Government's push to develop WA's knowledge economy, the US Trade and Investment Office will assist in diversifying our trade relationship," he said.

"This includes promoting marine and defence, creative industries, food and beverage, agribusiness, biotechnology and information and communication technology."

The trade and tourism office in the United States will add to WA's network of offices in China, Europe, India, Indonesia, Japan, Malaysia/Singapore, the Middle East, South Korea, Taiwan and Thailand.