INDICATIVE of Australia's move into Asian markets is Western Australia, the nation's largest state and one of the front-runners in realising the potential of its Asian neighbours' markets. With a population of only 1.6 million - about one-tenth of the nation's total - the state occupies one-third of the country, and accounts for 27 per cent of total exports. Its wealth mainly stems from minerals and agricultural products, and when it comes to exports to Hongkong and other parts of East Asia, these products tend to dominate. The state has tagged itself the ''World's New Path into Asia'', and this is no empty phrase. In the past 10 years, exports have grown from A$2.6 billion ($HK13.52 billion) to A$9.8 billion last year. That is 70 per cent of the state's total worldwide exports. And Hongkong is not being left out of Western Australia's burgeoning trade with Asia. By the end of June 1991, exports from Western Australia to Hongkong were A$287 million. The main exports included gold, cruise ships and ferries, wool, iron, steel and household appliances, and diamonds. Like a number of Australian state governments, Western Australia has a representative office in the territory. According manager, Elsa Ting, the office was set up in Hongkong in 1986. Its function is to promote education, trade and investment in Western Australia.