He reported to me that this region will be one of great opportunity for Australian business. Poland, the Czech Republic and Hungary, in particular, all have great potential and I urge you not to overlook this region as you expand your international operations. The Australia Government is working closely with the European Union to achieve new momentum for trade liberalisation. Our efforts in this regard have been especially fruitful in connection with negotiations in the lead-up to the World Trade Organisation's inaugural Ministerial Meeting in Singapore next month. EU and Australian proposals are, in fact, likely to form the basis of the WTO meeting, and I think we can now look forward to a solid and forward-looking outcome at the WTO meeting.
Agricultural trade continues to be a major element in our relationship with Europe.
The Government continues to work to lock in the benefits of the Uruguay Round in this area, and to prepare the groundwork for new multilateral negotiations in this sector. This is being pursued at two levels. First, within the WTO, a deal has been struck that a process of information exchange and analysis would commence in 1997 to prepare for new negotiations in this sector. Secondly, the Government is working bilaterally in Europe to encourage further reform of the EU's Common Agricultural Policy. In the meantime, the Government has had some break-throughs on market access issues.