“Greater strategic economic engagement between Europe and Asia suggests to me that there is more that can productively be achieved in the Australia-Europe relationship than in the past. Australian businesses are increasingly aware of the European market. The GDP of the expanded EU is $11 trillion – larger than the US. The EU accounts for 40% of world trade… (and) new information technologies available to us continue to shrink economic transaction time and cost.

Minister for Foreign Affairs, Kevin Rudd

“One very significant event in EU history, was the enlargement which occurred on 1 May (2004)… see[ing] the EU continue as the world’s largest trading entity and its second most wealthy economy. For business people in the Asia Pacific, an enlarged EU means an even greater potential spread of the benefits arising from a single market with one tariff schedule and one set of rules for doing business.

European Commission President, José Manuel Barroso

“The Council (EABC) plays an important role in developing Australia’s trade and investment links with Europe, which are a key element of the broader relationship. The European Union is a crucial market place for Australian Business, and it is important that Australia continues to strengthen and broaden relations with all the states of Europe, and with the European Union.

Prime Minister, Julia Gillard

“In Australasia exporters and investors have much to gain from the European Union itself. With the addition of ten new member states ... the EU now represents an affluent market of 450 million consumers. The ‘single market’ with its common set of trading rules, single tariff schedule, and single set of administrative procedures now covers 25 European states. Rising standards of living in the new member states, as well as harmonised rules in an extended single market, make the EU a huge potential market for companies wanting to invest in the EU.”

Former European Commissioner for External Trade, Peter Mandelson

“The trade relationship between Australia and the EU is very strong. The EU is Australia’s second largest export market and our largest source of imports. At over $100 Billion, the EU is also Australia’s largest source of foreign direct investment and the second largest destination for Australia’s investment abroad. The EU, therefore, is a crucial marketplace for Australian business and it is important that we continue to strengthen and broaden our relations with all the states of Europe and the EU. I appreciate the important role the EABC plays in enhancing Australia’s economic relationship with Europe.”

Minister for Defence, Stephen Smith

“Australia and the EU have much in common and have taken similar approaches to a number of challenges that face us. We have a pragmatic and straightforward bilateral relationship, an open approach to regionalism and a common belief in a rules-based multilateral trading system. This makes us co-operative neighbours - albeit on opposite sides of the globe, and partners in making our common agenda a success.”

World Trade Organisation Director-General, Pascal Lamy