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Monday, 24 October 2011

Western Australia may become the “new California” of Australia as the nation’s centre of economic gravity shifts west, business leader and Chancellor of The University of Western Australia Michael Chaney told an international gathering in Perth tonight.

“If WA’s rapid development as a first-tier exporter of resources continues for another couple of decades, it will transform our economy despite a very poor economic outlook in Europe and the US,” Dr Chaney said.

Dr Chaney was giving the keynote speech to more than 250 Commonwealth Business Forum guests and Australian government and industry leaders at an In the Zone Gala Dinner at UWA’s Winthrop Hall.

UWA created In the Zone three years ago to develop high-level dialogue with Australia’s major trading partners, in Perth’s time zone, which comprise 60 per cent of the world’s population and promise the greatest economic growth of the 21st century.

Dr Chaney said the recent trend of high growth in China and India represented a regaining of the central importance they had held for much of their history.

“The implications are pretty obvious,” Dr Chaney said. “Our challenge is to make sure we position ourselves to take advantage of this golden era and create and maintain efficient economies ourselves and through effective investment strategies.”

The University of Western Australian’s Vice-Chancellor, Professor Alan Robson, said Perth – one of the world’s most geographically isolated cities − was no longer on the edge of international affairs but rather at their heart.

“The In the Zone conference series has achieved significant acclaim as it brings together the leaders of Australia and its near neighbours for high-level dialogue on key mutual issues of our time,” Professor Robson said.

Renowned opera singer and UWA graduate Sara Macliver performed a selection of popular works at the Gala Dinner, which was hosted by UWA.

Media references

Michael Sinclair-Jones (UWA Public Affairs)  (+61 8)  6488 3229  /  (+61 4) 00 700 783

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