Western Australia woos Indian firms

Hyderabad, June 17, (UNI) Stating that Western Australia(WA) had a favourable investment climate, its Indian Trade office Regional Director Simon Johnson today urged captains of Industry and trade to tap the huge potential in the fields of Energy, Mining, Agro-processing, Information Technlogy and Biotechnology, among other sectors.

Political stability, abundant and competitively priced energy, skilled and productive workforce and proximity to emerging markets and a Government supportive of industrial development, were among the key reasons for Indian firms, which were mainly paying attention to the US, EU, Japan and China now to come to Western Australia, ''an attractive place to live and do business'', he said while addressing the members of the Federation of Andhra Pradesh Chambers of Commerce and Industry here.

He highlighted the investment opportunities mainly in Mineral and Petroleum Resources sector and said that Western Australia, was one of the most diversified and productive mineral and petroleum regions in the world.

''Australia is a very good market which pays for quality'', Mr Johnson, who had been honoured by the Department of Industry and Resources, Western Australia, for expanding trade with Taiwan said.

Western Australia and India had several commanalities, including knowledge of English and similar legal system, he said.

He said a trade delegation would visit India by September end and would tour among other cities, Mumbai and Chennai, to explore business and investment opportunities between the two countries.

Agriculture was one of the areas of cooperation with Australia, the world's most efficient and modern agricultural producer with well developed processes for dryland farming, water harvesting, irrigation systems and dealing with contaminated waterways, FAPCCI Foreign Trade Committee Chairman B Shankar said, adding that 14 Indian companies had made direct investments in Australia.

Stating that India was emerging as one of the good exports markets for Australia, with merchandise exports alone accounting for Dollar 5.4 billion last year, compared to Dollar 1.8 billion in 2000, Mr Shankar said total trade in goods and services were worth Dollar 7.4 billion, placing India in 13th place of the top trading partners.

He urged Mr Johson to arrage a trade or catalogue show of Australian products and technologies here to create awareness about the Australian products.

UNI SM KVV 1345