The fault lies on both sides. Australian companies compete aggressively and successfully in some of the toughest markets in the world. But even though Brazil is by far our largest market in Latin America, I regret it remains for many a largely unexplored frontier. For Brazilian business, Australia is much the same. Great potential of our bilateral relations Of course, we have had our successes here.
Brazil is a very important market for Australian coking coal.
We sell dairy products, including milk powder and cheese. The latest model General Motors Omega is made in Australia. The electronic commerce equipment found in Brazil's largest private bank, Bradesco, is Australian made, as is some agricultural machinery used on Brazilian farms. Brazilians will also soon be using Australian plastic banknotes, a very successful new technology developed by the Royal Australian Mint. There are long-standing and very productive ties in the mining and energy sectors, including Australian companies BHP, WMC and Hamersley Iron, which all have projects here.