WA cushioned against recession by Asian trade (A/Min)

The latest figures on Western Australia's international trade show that huge purchases by Asia are cushioning the State against the worst effects of the recession in Europe and North America.

"Because the economies of most Asian countries are growing as strongly as they are and Asia is choosing Western Australia as a key supplier, our industries are not suffering as much as they otherwise would," acting State Development Minister Gordon Hill said today.

"The trends are also a clear indication that our efforts to strengthen ties with our closest neighbours are paying off.

"In 12 months, the value of sales to the region has jumped 36 per cent so that almost two thirds of our exports now go to Asian countries."

Mr Hill, who has special responsibility for trade, revealed the figures when announcing details of the State's latest export drive.

In the next five months, more than 80 West Australian companies would join trade missions organised by the Department of State Development to the Philippines, Indonesia, Hong Kong and Singapore.

"Our efforts are directed at broadening WA's export base and tapping further into Asia's economic expansion," Mr Hill said.

"Raw materials have long been the mainstay of our export trade but WA has considerably more to offer and there are many areas where we have a competitive advantage.

"The companies which will be exhibiting at these trade missions range from high-tech engineering firms to accountancies and caterers.

"Each is attending because our research shows markets for such expertise are quickly opening up in the region."

Mr Hill said that in the financial year 1989-90, Asia's share of the State's exports was 56 per cent. In the last financial year, it had risen to 64 per cent. The increase had been primarily in raw materials such as iron ore, liquefied natural gas and oil.

Exports to Japan, WA's main trading partner, rose 36 per cent to $3.7 billion.

Exports to Singapore increased 163 per cent to $1.2 billion; South Korea 48 per cent to $732 million; Hong Kong 93 per cent to $288 million; India 81 per cent to $60 million; Thailand 81 per cent to $54 million, and Vietnam 1703 per cent to $9 million.