Signing of economic agreement with Zhejiang Governor

4/3/95

Premier Richard Court has today signed an agreement with the Governor of the Chinese Province of Zhejiang aimed at promoting economic and business exchange between the province and Western Australia.

Mr Court and His Excellency Wan Xueyuan signed the agreement which paves the way for the establishment of the Zhejiang - Western Australia Economic Exchange Committee.

The Premier said the agreement further strengthened the relationship between WA and the province - which has grown with the establishment of a Sister-State relationship in 1987 and the setting up of an office in Perth by Zhejiang in 1993.

"Both Zhejiang and WA are experiencing strong economic growth and there is great potential for our two states to identify and benefit from economic and business opportunities that continue to arise," Mr Court said.

He said that under the agreement signed today the committee would be established to:

·   exchange economic information, provide information on relevant policies, introduce potential partners and provide advisory services;

·   guide, assist and encourage the economic and business exchange between both regions and joint ventures between enterprises;

·   provide special assistance in arranging visits and introducing business contacts for visits of economic related delegations from the partner region; and -

·   promote increased trade, investment and technology transfer through activities such as trade fairs and delegations.

"The committee will comprise two sub-committees - one in Zhejiang Province chaired by the Vice Governor and one in WA chaired by Deputy Premier Hendy Cowan," Mr Court said.

"Once the committee has been formed, it will hold a general meeting at a venue yet to be decided - this will be followed by similar meetings every two years alternating between Zhejiang and WA." 

Mr Court said China was now WA's fourth biggest export market and it was through initiatives such as the economic exchange committee that this could increase.