Zak Kirkup and the Liberals have today announced a bold $100 million International Market Diversification Plan to open up new markets for West Australian industries hit by the COVID-19 pandemic or trade tensions, and to help create 200,000 new jobs.
“The COVID-19 crisis and ongoing trade tensions have impacted or threaten to significantly impact a range of West Australian sectors including wine, crayfish, barley, international education, international tourism, timber and others,” said Mr Kirkup, the Liberal leader.
“These industries will be given priority as we pursue new markets for all those WA businesses facing such uncertainty about their futures. We want to protect them and give them opportunities to get ahead.
“If I become Premier, I will lead our first trade mission to Japan and South Korea to discuss trade opportunities for our impacted export markets and to discuss strategic opportunities in other sectors like agriculture, tourism, international education and minerals and energy, including hydrogen and lithium.
“As part of our innovative plan we will also open a trade office in the United States and substantially increase funding to other key trade offices.”
Mr Kirkup said Western Australia did not have a trade office with the United States despite it being the largest investor in Australia.
“Victoria has six, so it’s time we opened one. I am excited by the opportunities it would present, especially at a time when there is a new President and new era in trade relations. It would not only provide export opportunities but also attract US investment for WA projects,” Mr Kirkup said.
“The trade office would host trade missions, events and develop economic relationships with new customers in the US. This includes generating greater inward investment to grow traditional and emerging industries in WA.
“We will also increase funding to the Japanese, South Korean, Singaporean, Indian and Indonesian trade offices by 50 per cent through the new regional hubs to facilitate greater representations and trade missions to these and surrounding Asian countries.
“And a 50 per cent increase in funding to the London Trade Office would also secure additional trade opportunities in the UK and Europe following Brexit.
“This innovative International Market Diversification Plan is part of our plan to create 200,000 new jobs, which will support West Australians with secure and full-time work. This is the number of jobs the Australian Bureau of Statistics and Treasury data says we need for WA businesses and our economy to fully recover.”
Shadow Minister for Tourism and Small Business Alyssa Hayden said any measures that would assist West Australian small businesses to diversify their markets and products would be a positive step.
“Small businesses are the backbone of our economy as a major employer of local jobs, so it’s critical that we support them to respond to the impact of international issues that are beyond their control,” Ms Hayden said.
“The international market can be difficult to enter. A Liberal State Government will help create and build pathways for our outstanding small businesses who are keen to expand into this market.
“This plan will also assist peak tourism bodies such as the Tourism Council of WA and Western Australian Indigenous Tourism Operators Council to develop in-bound tourism once it is safe to do so.”
The Liberals’ deputy leader Libby Mettam said the wine industry would benefit from the
$100 million International Market Diversification Plan.
“West Australian industries are at risk because of trade tensions. WA is renowned world-wide for the quality of the wine it produces so it makes sense that we open the door to new trade markets for our premium growers,” Ms Mettam said.
“It is critical that we help the wine industry diversify. This fund will provide more trade markets for the industry, so more people overseas can enjoy the amazing wines Western Australia produces.”
As part of the $100 million International Market Diversification Plan, the Liberals would make available:
- Co-contribution grants up to $250,000 over two years to West Australian-based businesses, with the scheme capped at $40 million.
- Co-contribution grants of up to $5 million over two years for West Australian-based industry groups, universities, state and private training providers, with the scheme capped at $40 million.
The Liberals will also:
- Implement the International Markets Advisory Council – which will report to the Premier.
Comprising industry representatives and government trade specialists, the council will provide the Premier advice on issues, opportunities and priorities relating to international market and product diversification.
It will also advise on how the State Government’s international relations, market knowledge and intelligence can best be utilised to assist WA industry to diversify and grow international markets.