The Albanese Government is acting to shield Australia against any future fuel supply chain disruptions, by establishing new fuel security powers, enabling government to work with fuel suppliers to keep fuel flowing to Australia.

Next week the Government will introduce amendments to the Export Finance and Insurance Corporation Act, formalising the Commonwealth’s ability to underwrite additional cargoes and other vital strategic reserves as needed. 

ANTHONY ALBANESE, PRIME MINISTER: Good morning. Firstly, can I make some comments about Severe Tropical Cyclone Narelle. It's currently a Category 4 and currently impacting the West Pilbara coast with severe impacts extending to the Gascoyne Coast. We are of course still seeing the lingering effects in Northern Australia, particularly the Northern Territory, which is still dealing with the damages from floods. My Government of course stands ready to assist state and territory governments, but also local government at this time.

ANTHONY ALBANESE, PRIME MINISTER OF AUSTRALIA: It is an absolute pleasure to welcome my friend, the President of the European Commission, Ursula von der Leyen, to Australia on her first visit as president. We are so pleased that you will address our parliament today – a historic occasion. There have been 20 leaders address joint sittings of the Australian Parliament, but you will be, Madam President, the first woman to do so.

President von der Leyen.

My friend.

On behalf of the people of Australia, it is my great honour and pleasure to welcome you and your delegation to our National Parliament.

You will shortly become one of only a handful of international leaders to have addressed our Parliament, adding your name to short list that, among others, includes President Obama, Prime Minister Modi, President Widodo, President Xi and Prime Minister Abe.

The Australian Government is set to begin treaty negotiations on association to Horizon Europe, which will give Australian organisations access to the world’s largest pooled research fund in 2027.

Horizon Europe is the European Union’s flagship research and innovation funding program worth $155 billion (AUD).

Australia and the European Union are strengthening cooperation through a new Security and Defence Partnership.

Prime Minister Anthony Albanese and President of the European Commission Ursula von der Leyen announced the Australia‑European Union Security and Defence Partnership in Canberra today which, together with the Australia-EU Free Trade Agreement, is a key aspect of our growing strategic relationship.

After 8 years of negotiations, Australia has secured a landmark trade deal with the European Union, the world’s second largest economy.

The Australia–European Union Free Trade Agreement will lower trade and investment barriers between Australia and the European Union – a market of around 450 million people.

ANTHONY ALBANESE, PRIME MINISTER: Welcome to the President of European Union, Ursula von der Leyen, my friend and your delegation. And you are so welcome here in Australia. And I can't think of a more important time than for you to be here right now, when we are reminded of the importance of friends, engaging economically, socially, and importantly in terms of our personal relations. Here in Australia, of course, many people can trace their origins back to Europe. My name speaks for itself, where that is from, with my Italian heritage. But so many of us can do that.

The Prime Minister of Australia, the Honourable Anthony Albanese MP, and President of the European Commission, Ursula von der Leyen, reaffirmed the strength of the partnership between Australia and the European Union, underpinned by shared democratic values, respect for international law, and people to people, economic, scientific and strategic links. They emphasised that Australia and the European Union are trusted friends, working together to address economic resilience, security, climate change and environmental challenges.

I begin by acknowledging the traditional owners of the land on which we meet and I pay my respects to their elders past, present and emerging. 

I am pleased to be back at your annual dinner and to be joined by so many of my parliamentary colleagues. 

This year’s event comes at a testing time for the world - and a pivotal moment for Australia. 

There are two critical challenges confronting us: 

One, we must navigate the global economic storm that the war in Iran has unleashed.