Eric Ripper

Eric Ripper

Deputy Premier; Treasurer; Minister for State Development

    Deputy Premier leads Indian investment mission

    4/07/2008 12:00 AM
     

    Deputy Premier and State Development Minister Eric Ripper will leave this week for a 12-day trade and investment visit to India, Western Australia’s fourth largest export partner.

     

    The Deputy Premier will meet with Indian business and government leaders to promote and broaden WA’s relationship with India.

     

    “India already has significant investments in WA and there has been growing interest in the resources industry as well as oil and gas exploration, in onshore and offshore areas,” Mr Ripper said.

     

    “Visits such as this are important to help strengthen our trade and investment links with our major trading partners; and to encourage strategic investment into WA.

     

    “It is also an opportunity to enhance bilateral relations with India and to explore future opportunities for collaboration.

     

    “The Government recognises the growing importance of India as one of the world’s leading economies.  India’s economy has been expanding at an average exceeding eight per cent in recent years and will be a growing market for our resources, energy and agricultural products.

     

    “There are also increasing linkages in the knowledge-based industries such as ICT and biotechnology, which I hope to encourage and foster.”

     

    During his visit, the Deputy Premier will meet key officials including the Minister for Steel, Chemicals and Fertilisers who invited him to India; Minister for Commerce and Industry; Minister for Mines; and the Minister for Petroleum and Natural Gas.  

     

    Mr Ripper will also meet with leading Indian industrialists, leading banks and industry associations.

     

    India is WA’s fourth largest export market with 2007 exports valued at more than $5billion.  Western Australia currently accounts for 54.1 per cent of Australia’s exports to India.

     

    This State has already attracted more than $1billion of investment from India, including the Burrup ammonium and ammonia nitrate plant, the Nifty copper mine and various investments in the agribusiness sector.

     

    “WA’s two Trade and Investment Offices in India provide great support for the relations between WA and India,” the Deputy Premier said.

     

    “The offices in Mumbai and Chennai facilitate Indian investments in WA, as well as business and cultural partnerships.”

     

    One such successful partnership the trade office was instrumental in establishing was a Memorandum of Understanding (MOU) between the WA Department of Industry and Resources, Department of Environment and Conservation and the WA Chamber of Mines with the Indian Department of Mines, Ministry of Forests and Environment, and the Federation of Indian Minerals Industries. 

     

    The MOU covers the exchange of environmental and mining management technologies.

     

    “The MOU provides a perfect platform to further the relationship with India and a similar MOU is being considered with the Indian Ministry of Petroleum and Natural Gas,” Mr Ripper said.

     

    “The trade office has also worked closely with Perth Education City and in the past year, WA has seen a 123 per cent increase in the number of Indian students.

     

    “This is the first time WA has outperformed all States and has seen its overall market share increase from its low base of two to five per cent.”

     

    Mr Ripper will leave Perth on July 5 and return on July 16.  He will attend meetings in Hyderabad, Chennai, Mumbai and New Delhi.

     

    Deputy Premier's  office  - 9222 8788