- Opportunities to build Western Australia's economic resilience identified through Trade and Economic Resilience roundtable
- Joint meeting with Chamber of Minerals and Energy and the Chamber of Commerce and Industry of WA discussed supply-chain infrastructure, sovereign capability, market diversification, energy and resource security, and State Government policy
- Forum participants from across business community identified a range of opportunities to support jobs and build WA's economic resilience
The WA Labor Government has identified a range of opportunities to build Western Australia's economic resilience following the conclusion of its historic Trade and Economic Resilience roundtable.
The meeting - held jointly with the Chamber of Minerals and Energy (CME) and the Chamber of Commerce and Industry of WA (CCIWA) - explored opportunities for the State Government to work with the business community to boost productivity and ensure WA's economy remains the strongest in the nation.
Key themes discussed at the roundtable were:
- supply-chain infrastructure;
- sovereign capability;
- market diversification;
- energy and resource security; and
- state Government policy.
A key focus was supporting the State's local manufacturing sector to bolster sovereign supply chain capability and facilitating the energy transition consistent with the Government's job-creating Made in WA agenda.
The summit follows a bumper five years for the WA economy, which has grown in that time by over 25 per cent, well above the national rate of just below 16 per cent.
While the State contributes almost half of the value of the nation's exports, global pressures and uncertainty means this success cannot be taken for granted into the future. But while there are risks attached to the current and potential ongoing shifts in the global economy, it also presents opportunities for WA and the State's business sector.
Following the roundtable, the State Government agreed to work with the CCIWA and CME to develop initiatives based on the following outcomes:
- Energy:
- Develop infrastructure and policy to enable renewable energy uptake at scale to deliver affordable and reliable green energy that is supported by gas.
- Use existing strengths to create a low-cost, global scale renewable energy system backed by gas designed to meet our strategic industrial needs and attract industries to locate in WA.
- Common-use infrastructure:
- Further identification and refinement of the required common-use infrastructure to protect and grow existing industry while attracting new projects to innovate and diversify WA's economy.
- Approvals and regulation:
- Reform to accelerate and further streamline approvals.
- Consideration of pathway for priority transformative projects in specific locations or industrial zones.
- Workforce planning:
- Ensure WA has the skilled workers needed to deliver on the pipeline of projects in the State, including for housing, hospitals, resources and renewable energy projects.
As stated by Premier Roger Cook:
"True progress happens when business and government are on the same page.
"Led by our world-leading resources sector, WA has the strongest economy in the nation and is the best place in Australia to get a quality job.
"Put simply, I want WA to be the place in the world to do business.
"My government has worked hard with private sector to get to this point by reforming planning and environmental approvals, increasing traineeships and apprenticeships, and creating a record pipeline of economic infrastructure.
"I want WA to be a global leader in investment attraction, industry facilitation and regulation - and working together as Team WA, we can make that a reality."
As stated by Deputy Premier and Treasurer Rita Saffioti:
"Our Trade and Economic Resilience roundtable coincided with the release of quarterly data from the Australian Bureau of Statistics, which again highlighted WA's strong domestic economy, with growth almost double the national rate in the year to March 2025.
"Of course, this roundtable was about more than just maintaining our strengths.
"It was about building on them by ensuring we remain globally competitive, continue diversifying our economy for the future and make WA the best place in the world to do business.
"As we navigate global economic uncertainty, it's more important than ever that our government keeps leading the way and working hand in hand with the private sector to continue propelling this State forward."
As stated by Chamber of Minerals and Energy of Western Australia CEO Rebecca Tomkinson:
"CME welcomes the Cook Government's initiative, and the opportunity to represent our members in consultation that seeks to support industry resilience and growth.
"A coordinated approach to global market challenges makes sense and strengthens the argument for increasing WA's capacity for diversification, removing regulatory and infrastructure bottlenecks, and establishing investment-friendly policy settings.
"WA is a well-established, top-tier resources jurisdiction with strong ESG credentials and a stable operating environment - but to remain globally competitive, we must continue to optimise this position through policy certainty, infrastructure readiness, and streamlined approvals."
As stated by Chamber of Commerce and Industry WA CEO Peter Cock:
"The impact of US tariffs on global trade flows will hit different sectors of our economy in different ways, but there are opportunities to build WA's resilience to drive growth through times of uncertainty.
"A survey of CCIWA members in May found 43 per cent saw an opportunity in the State Government's Made in WA agenda, though half indicated they would need assistance to capitalise on the opportunities.
"The roundtable allows us to give a voice to the small and medium businesses who could be impacted, and we will take today's findings forward with our membership."
