I am delighted to be in Townsville to deliver the Dalton Memorial Address. I want to thank James Cook University - particularly the School of History and Politics - and the North Queensland Branch of the Australian Institute of International Affairs for this opportunity. I am very pleased to say that my Chief of Staff - Bill Tweddell - is a graduate of James Cook University, and I am delighted that Bill's father Doug is able to be here tonight. Bill knew Brian Dalton personally and remembers him with great respect and affection. This series of lectures honours the life and work of a world-class scholar and selfless institution-builder - Brian Dalton - the foundation professor of History at James Cook University. During the twenty years of Professor Dalton's leadership, his department gained a national and international reputation for its research on regional history, on South East Asia, and on race relations. Although the lectures are still young, they already have a very distinguished history. I am especially pleased to note that Mrs Delia Domingo Albert, the Ambassador for the Philippines in Australia, was a Dalton Guest Speaker earlier this year. My topic today - `Australia and Asia: The Way Forward' - could not be more timely or important. The key issue I want to focus on is economic liberalisation within the context of Australia's overall engagement with the Asia Pacific. Economic liberalisation is the Government's first priority in the region. The other three key elements of our regional policies