 The new Australian government is establishing foreign policy priorities and programs which will give to the Australian people a clear sense of our place in the world. We are a nation with global interests, committed to democratic values and the rule of law. We will continue to promote global peace and security during this, our final year, as a non-permanent member of the United Nations Security Council. We have a reputation as a vibrant and open economy, which we intend to make even stronger through a renewed focus on economic diplomacy. We have placed a very deliberate emphasis on this, including the pursuit of a very ambitious trade and investment agenda. As the responsible minister, I have already had the privilege of visiting many countries around the world in pursuit of this. In my travels, I have gleaned a definite mood of disillusionment with the interventionist government-led approaches adopted by so many countries in response to the global financial crisis. Indeed, there is a renewed appetite, a window of opportunity if you like, to use economic diplomacy and trade as key levers to drive sustainable growth and jobs into the future. Our chairmanship of the G20 this year is an important opportunity to build a stronger global economy. We will continue to promote free trade and better market access wherever we can. We're actively pursuing free trade agreements to benefit our exporters and producers. The government is committed to seeing Australian brands and businesses expand their overseas presence. It is pleasing to have had some early success. The conclusion of the negotiations for a free trade agreement with Korea helps to send a potent message to the world that we are indeed open for business. We are of course also striving to conclude free trade agreements with Japan and China as soon as possible and playing a constructive role in advancing the Trans-Pacific Partnership Agreement. It is particularly important that we refocus our foreign policies on our neighbourhood. Our standing in the world is at its highest when our influence in our region is at its strongest. To our eastern north we will work with regional forums such as the East Asia Summit, APEC and ASEAN to build security and prosperity in the Asia Pacific. To our west Australia will work to strengthen cooperation on areas of common interest through the Indian Ocean Rim Association which we recently hosted in Perth and will chair for the next two years. And importantly we will broaden, deepen and diversify Australia's bilateral relationships with our regional partners. Free of trade and investment will also be particularly prominent themes during Australia's chairmanship of the G20 later this year. This comes at a crucial stage in the global economic recovery. Despite our challenges and bumps along the way, Australia's economic fundamentals remain strong. We have so much going for us as an attractive location for investment, as a partner in trade, as an entry point into the region and as a destination for international tourism, particularly given the exploding numbers of the middle class in the region around us. Moving the tourism portfolio into the realm of DFAT and AusTrade as we have done makes eminent sense. It also places me in the enviable position of being if you like the main salesman for Australia. Our beautiful country with its natural geographic advantages of reef, beach and outback and the oldest living culture in history give me a head start on selling Australia to the world. So as much as I would like to, I can't take all the credit for Australia constantly being in the top 10 holiday destinations for international tourists. The government is committed to transforming our connections with Indo-Pacific countries by developing closer people-to-people lengths and deeper knowledge of their societies, languages and way of life. Last December I launched the pilot program for Australia's new Colombo Plan, a signature government initiative to send our undergraduate students overseas to learn, build friendships and strengthen ties with our Indian Ocean, Asia-Pacific neighbours. Over time I hope that studying and working in our region will be a rite of passage for young Australians. New Colombo Plan students will return home work-ready and Asia-literate with new perspectives, ideas and skills to boost Australian innovation and productivity, ensuring that we can take full advantage of the region's economic transformation. I recently launched the 2014 Austrade benchmark report which demonstrates our strong competitive position. Our workforce is highly skilled with almost 40% tertiary educated and in terms of the ease of doing business, we are ranked number three in the world. Australia is one of the world's most diverse, multicultural nations. This is one of our fundamental strengths. We reflect on our past and celebrate our bright future as an actively engaged member of the global community.