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Mr Muto, and Mrs Moriyama, and Mr Yanagisawa, other members of the Japanese-Australian Diet League. On behalf of all of the Australian party here, I would like to thank you very much for your very courteous gesture in hosting this breakfast. This is my fourth visit to Japan since being Prime Minister of Australia. I look forward very much later this day in meeting your Prime Minister and other senior members of your government. The relationship between our two countries is a very close one. It is not only a strong economic relationship but it is also one that is strengthened by the many exchanges of people, not least the almost of a million Japanese tourists who come to Australia and the widespread learning of the Japanese language in Australian schools.
It is important in close relationships of this kind that we do not take those relationships for granted and that we find new ways of making the relationship even stronger. That is why both your Prime Minister and I sponsored the Japan-Australia Council meeting a few months ago in Sydney. And that meeting was designed to provide some new directions and new strength to the relationship. One of the proposals to come from that meeting was a proposal for a Trade and Investment Facilitation Agreement to be discussed and negotiated and concluded between Australia and Japan, an agreement which really builds on earlier proposals which led to agreements over the long history of our close relationship since World War II.
Japan is clearly Australia';s best customer and Japan has been a wonderful trading partner. And the trade between our two countries, worth some $43 billion, is very important to Australia, as I know it is to Japan. Both Australia and Japan have an interest in further opening up world trade. Neither of us has an interest in seeing the world retreat into higher protection and it is important that both of us work to achieve a new World Trade Organisation round when that organisation next meets.
Thank you very much Mr Chairman for your kind remarks regarding the Government';s reform programme. Over the last five years we have seen a very significant strengthening of the Australian economy largely due to the many reforms that have been undertaken in our country. Not only over the last 5 years but indeed over the last 10 or 15 years. The latest indications are that the growth forecasts brought down in our last budget are likely to be achieved and that despite a temporary glitch during the December quarter, the Australian economy is on a very strong growth path.
Can I again very warmly thank the members of the Diet League for not only being here this morning, but also for the enormous contribution you have made to keeping very strong this very close relationship between our two countries which is very important to me and I know very important to the people of Australia.
Thank you.