In an address to a joint session of the Federal Parliament on Friday, President Hu Jintao said ties between China and Australia are deep and broad and will only grow with time.

Hu said the relationship between the two countries has stood up to international ups and downs and has made steady headway.

"To consolidate and develop its all-round co-operation with Australia is a key component of China's external relations,'' the president said, speaking to more than 500 parliament members and their guests, a who's who of Australian business and political personalities.

Henry Tsang Oam, chairman of New South Wales-Asia Business Advisory Council told China Daily that the rare speech by a state leader to a joint federal session here demonstrates the vital position China now plays on the world stage and the blossoming relationship between the two nations.

"We respect China's growing role and how it advocates common prosperity, which is highlighted in President Hu's speech,'' Oam said.

Hu is among just a few major figures who have been honoured by an invitation to address such a session. Among such leaders are Queen Elizabeth II and US President George W. Bush. Bush spoke to the lawmakers earlier in the week.

In his remarks, Hu called for deeper, co-operation between the two countries as a common aspiration of the two governments and their peoples.

"I'm convinced that China and Australia will shape a relationship of all around co-operation that features a high degree of mutual trust, long-term friendship and mutual benefit... a relationship that makes our two peoples both winners.'' the president said.

On how to conduct a smooth state-to-state relationship with lasting peace and common prosperity, Hu said that, politically, all countries should respect each other, seek common ground, put aside differences and work to expand areas of agreement.

"By mutual respect politically, we mean that the political systems and paths of political development chosen by the people of each country should be respected,'' he said. "Democracy is the common pursuit of mankind, and all countries must earnestly protect the democratic rights of their people.''

He said China had advanced the process of democracy under its strong reform efforts over the past two decades.

Economically, he said that nations should complement and benefit one another, deepen their co-operation and achieve common development.

"Past, present or future, we see Australia as our important economic partner,'' Hu indicated.

He said the new Trade and Economic Framework Agreement between China and Australia marks a beginning of a new stage of bilateral commitment to working together.

"We are ready to be your long-term and stable co-operative partner dedicated to closer relations based on equality and mutual benefit,'' he said.

On security, Hu said China is committed to fighting terrorism and to regional stability. But he stressed all countries need to reaffirm their commitment to multilateral solutions and give full attention to the important role the United Nations can play in maintaining world peace.

"We are ready to join Australia and other countries in cultivating a secure and reliable international environment of lasting stability,'' he said.

Hu reinforced China's long-held position that Taiwan is an inalienable part of China.

"The complete reunification of China at an early date is the common aspiration and firm resolve of the entire Chinese people,'' he said.

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