The McGowan Government has announced Frankfurt as the newest location in its network of international offices.
This announcement was made by Deputy Premier Roger Cook at an Invest and Trade Western Australia showcase held in Frankfurt this week.
The Deputy Premier is visiting Frankfurt as part of an Invest and Trade WA mission to the United Kingdom and Germany to promote investment and trade opportunities, and showcase WA’s industry capabilities.
Frankfurt will be the first spoke office established within the United Kingdom/Europe Hub of the Western Australian International Investment and Trade Office Network.
Expected to be open from January 1, 2023, the setup and operations of the Frankfurt office will be overseen by WA Agent General Mr John Langoulant AO, who is based in London.
Frankfurt is one of four new spoke offices to be established by the WA Government in 2022-23 to strengthen investment and grow opportunities within the State’s key markets. The network currently has offices located in London, Singapore, Jakarta, Shanghai, Mumbai, Dubai, Tokyo and Seoul.
Establishing an office in Frankfurt reflects Germany’s importance as a source of foreign direct investment in Australia (valued at AUD $20.177 billion in 2021), with growing opportunities for WA in a range of sectors such as clean energy (with a focus on renewable hydrogen), batteries and critical minerals.
Frankfurt is also an ideal location to leverage opportunities in other industry sectors such as the creative industries, information technology, telecommunications, biotechnology and life sciences.
Germany is WA’s 13th largest trading partner, with AUD $3.1 billion of goods traded in 2021. Last year, WA accounted for 17 per cent of Australia’s total trade in goods with Germany.
Operating as the ‘front door’ to WA for overseas investors, Invest and Trade WA works to attract investment into the State and foster mutually beneficial trading relationships.
For further information, https://www.investandtrade.wa.gov.au
As stated by Deputy Premier and State Development, Jobs and Trade Minister Roger Cook:
“I am pleased to announce that Frankfurt will be the newest location in the Western Australian Government’s network of international investment and trade offices.
“As a global financial and technology hub, Frankfurt is a gateway to exciting investment and trade opportunities for Western Australian companies.
“The Western Australian Government is committed to growing the strong relationship between our State and Germany, which is underpinned by common values, strong people-to-people connections, and substantial trade and investment links.”