1994 will be a year of optimism and opportunity

31/12/93

In a New Year's message to Western Australians, Premier Richard Court said that 1994 would be a year of optimism and opportunity for the State.

The Premier said Western Australia was well-poised to take advantage of the uplift in the world economy particularly with strong economic growth forecast in the United States which would stimulate demand throughout the world.

"Since the State election, the Coalition Government has embarked upon an international strategy of promoting investment and trade opportunities in Western Australia and I will be leading further trade and investment missions this year," Mr Court said.

"This has already paid dividends with more than 37,000 new jobs being created in Western Australia as a result of increasing levels of business investment.

"Business investment in Western Australia is now increasing at five times the national rate.

"Western Australia also leads the nation in economic growth which is increasing at twice the national average."

Mr Court said that as Australia's largest export-earning State, Western Australia would gain from the renewed business confidence in the world economy during 1994.

"The recent GATT agreement, combined with encouraging economic signs from the United States, Germany and Japan, all bode well for economic development and job creation in Western Australia," he said.

"However, we will only take full advantage of these new opportunities by going out and selling Western Australia at the highest levels.

"One of the key international visits in 1994 will be to the financial markets in London which still account for a significant proportion of Western Australia's total business investment.

"In Europe, we will be promoting Western Australia as a strategic springboard into the Asian markets.

"We will also be selling the message that Western Australia presents unique opportunities for business investment because it is increasingly becoming a low-cost producer of world tradeable items because of the economic reforms being undertaken by the State Government."