Well, it is an absolute pleasure to welcome my friend, the President of the European Commission,

Ursula von der Leyen to Australia on her first visit as president.

We are so pleased that you will address our Parliament today, a historic occasion.

There have been 20 leaders address joint sittings of the Australian Parliament,

but you will be, Madam President, the first woman to do so.

Today marks a defining moment in the relationship between Australia and the European Union.

Today we can announce that after 8 years of negotiations,

Australia and the European Union have signed a landmark trade deal.

This is a significant moment for our nation as we secure an agreement with the world's 2nd largest economy.

The Australia-European Free Trade Agreement will lower trade and investment barriers between Australia and the EU,

a market of around 450 million people.

This agreement is worth $10 billion to the Australian economy on an annual basis.

Our relationship with Europe is grounded in our shared belief in democratic values,

in human rights, and in inclusive societies.

However, the regions that we call home, the Indo-Pacific and Europe.

Are less predictable, but they're more interconnected than ever before.

The best way of navigating this reality is for us to do more together,

and that is why last year I committed to stepping up our cooperation with the EU.

This is a comprehensive,

balanced and commercially meaningful agreement that will reduce costs for Australian consumers and open new markets to Australian producers. It is a win-win.

It eliminates tariffs on key Australian exports including wine, seafood, and horticulture.

And it means our high quality Australian produce, including beef, sheep meat, dairy,

rice and sugar will have access to consumers in the European market.

This benefits Australian consumers and companies too,

with greater choice in goods and services at lower prices, including important inputs for our manufacturing. And primary industry sectors. This agreement will grow our relationship further.

And further today we're pleased to announce the signing of a new Australia-EU security and defence partnership.

The partnership provides a framework to strengthen cooperation between Australia and our European friends,

so that we can best respond to pressing global challenges.

It will bolster our collaboration on defence industry, maritime security, cybersecurity,

countering terrorism, and combating hybrid threats such as disinformation.

And it shows our shared commitment to global peace and security, including reaffirming,

Our steadfast support for Ukraine in the face of Russia's illegal full-scale invasion.

Finally,

I'm pleased to announce that we will commence negotiations on association to Horizon Europe for 2027.

Once associated, Australian organisations can access the current round of Horizon Europe funding.

To lead and participate in research projects with the brightest minds on some of the most complex problems.

To be clear, this is the largest research, Organisation in the world, bar none.

So indeed, this is a big day in the deepening of our partnership between Australia and the European Union.

Our new commitments reflect our shared commitment to security and prosperity and our shared understanding that each depends on the other.

I'll now hand to President von der Leyen, and then we will take questions, but I also, want to welcome, obviously the Minister for Trade and also the European Commissioner for Trade and Economic Security,

who did such a fantastic job in finalising the negotiations that myself and the President have,

participated in very directly as well.