ABSTRACT
This chapter explores strategic opportunities for increased trade and investment between Western Australia and the Republic of Korea. It provides general background to the Australian and Western Australian economies within which trade and investment opportunities are set. Traditional strategic approaches to identifying trade and investment opportunities focus on distinguishing those industries displaying comparative advantage in relation to the likely export destination country. Trade and investment opportunity identification then arises from the process of investigating endowments. The British Government intended the colony of Weston Australia to have an agricultural and pastoral base, supporting a population of free settlers. Federation of the Australian states occurred in 1901 with the formation of the Commonwealth of Australia. Australia is organized as a Federation of six states (New South Wales, Victoria, Queensland, South Australia, and Western Australia) and two territories (Northern Territory and the Australian Capital Territory). There are three major sources of population increase in Australia: natural increase, migration from overseas, and interstate migration.
