Western Australia is ideally positioned to access every significant market in Asia, Australia, the Indian Ocean rim and beyond, and offers great benefits to businesses trading in the region. It also maintains strong cultural and business links to Europe, the Middle East and the US.
The Indian Ocean region, which includes South Asia, the Middle East and Africa, contains over one-third of the world's population and accounts for one-tenth of world trade. It is rich in natural resources, such as diamonds, tin, iron ore, gas and rare metals. Western Australia is the closest Australian state to this region, and now accounts for 25 % of Australia's exports.
Perth shares the same time zone with many Asian countries, facilitating contact during normal business hours. Perth companies can also contact Europe during business hours.
Perth is within easy flying distance of most countries in Asia, with more than 600 million people within eight hours of Perth and an additional three billion people being less than two hours further than that. This reduces shipping time considerably, translating into lower transport costs.
Looking ahead, Western Australia is well placed in terms of proximity and trading links with China and India, which offer potential for new sources of investment capital, particularly sovereign wealth funds and corporations.
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