Speaking notes for the Minister for Trade Senator Bob McMullan at a Buffet Reception hosted by the Australian High Commissioner to India, Mr Darren Gribble.

New Delhi, 14 February 1995

Minister Mukherjee, distinguished guests may I extend a very warm welcome to you.

Tonight is not the occasion for a long speech but I do not want to let the moment pass without saying a few words. Australia and India have had very close ties over several decades we share many values we have similar political systems and believe in democracy and the rule of law we have always got along well in our international dealings.

But times change the ties that have linked us in the past are no longer sufficient - by themselves - to sustain us as we approach a new milennium.

The world that is evolving in the post-Cold War era is a very different place from the relatively stable - if stultifying - international environment to which we had grown accustomed.

In the Asian region, we are on the move. Australia has been developing our competitiveness and outward focus for the last decade and half, and India, too, has been going through a period of rapid change

Your government has launched a process of far reaching reform and development and is achieving impressive gains India's economic potential is being unleashed and eventual prosperity for your people may no longer be merely an aspiration.

India is looking east - to the burgeoning economies of East Asia and the Pacific - for new partners at a time when we in Australia are looking westwards to engage with the liberalising and highly prospective economies of the Indian Ocean region.

India is foremost among them.

There will be plenty of time over the next few days for us to explore future opportunities together this evening is an opportunity for Australia to offer hospitality and entertainment

Let me take this opportunity to again thank the Australia-India Council for the strong support it has shown for my visit

and for the excellent array of activities it has organised in Delhi during this week.

The Council is also deserving of our thanks for the presence here this evening of the Australian music group, Sirocco who will shortly give many of you a first taste of Australia through their many musical talents.

In concluding, may I also extend a special word of appreciation to the High Commissioner and Mrs Gribble and to all of you at the High Commission and Austrade for the immense and painstaking effort in putting on this function tonight and for the preparations and arrangements for our visit.

Thank you.