Of course, much of this has occurred through our ties with the UK, which go back much further, and are much deeper. Next year, we are celebrating our Centenary of Federation. In recognition of this event, Australia Week will be held in London in July this year, to celebrate the Centenary of the British Parliament's passage of the legislation to create the Commonwealth of Australia. Today, we continue our efforts to broaden and strengthen Australia's relations with the European Union, the United Kingdom and its other member states. It is worth recalling that, taken as a single entity, the EU is Australia's largest trading partner.
Some examples prove the point.
These figures demonstrate our very substantial, mutually beneficial economic relationship. The UK not only provides an important trading relationship with Australia on its own. It also plays a vital role in facilitating Australia's trade with the rest of Europe both through its capital market and through its own massive trade with Europe - making these impressive trade figures with the EU possible. UK - EU and the Euro A key development in the economic consolidation of the EU was last year's introduction of the Euro. Australia watches developments in the Euro with great interest, not least because it has a direct effect on the value of our agricultural exports.