Trade makes US more than just mates, says the outgoing US ambassador to Australia Jeffrey Bleich AUSTRALIANS were so comfortable with Americans that they often just thought about them as mates rather than trade partners, the outgoing US ambassador to Australia said in Adelaide yesterday. On a farewell national tour, Ambassador Jeffrey Bleich told a Committee for Economic Development of Australia luncheon that bilateral investment between the two countries was at record levels. "America has been so deeply engaged at every level and in every dimension with Australians that we've become a little bit like part of the furniture," he said. People don't even notice that it's America. (We have) companies which are deeply invested in Australia. Our investment portfolio is enormous (but) people just don't think of them as American ... they just think they've been around for a long time, they're a good company and I like working with them. Whereas companies that are coming in from other countries that haven't had as big a footprint in Australia before - whether it's China, Indonesia, South Korea or Vietnam - it's very prominent in people's consciousness. So sometimes just reminding people that so much of what we share, so much of our common prosperity, the people that you like, is very positive. Many major American companies such as Chevron, Conoco Phillips, GE, Boeing, Lockheed Martin and Bechtel had their biggest investments or operations outside the US in Australia. The US and Australia have more than $1 trillion dollars in bilateral investment. US foreign direct investment in Australia totals $136 billion with a further $500 billion in indirect or portfolio investment. In the other direction, Australia has more than $50 billion in direct investment in the US and about $400 billion in indirect or portfolio investment. The US is by far the largest foreign direct investor in Australia, accounting for nearly a quarter of the national total. Australia's largest trading partner, China, makes up only 3 per cent of foreign direct investment into Australia. Mr Bleich said there was no inevitability of a looming clash between China and the US where Australia would need to pick sides. The US wanted Australian trade with China to grow and prosper because the close economic integration with the US meant Australia-China growth would flow on to also benefit the US. Mr Bleich said there was "ongoing dialogue" about the potential of US naval vessels being serviced at TechPort Australia in Osborne but nothing definite to report yet. Mr Bleich - who has been ambassador for four years - said he would hold fond memories of visiting South Australia's wine regions and enjoying Haigh's chocolates. Flinders University will award an honorary doctorate to Mr Bleich in recognition of the work he has done in placing Flinders students at Capitol Hill in the Washington Internship Program to experience US political life. He will only accept the doctorate once he completes his posting. Mr Bleich, who is being replaced by John Berry, will return to the US where President Barack Obama has some new positions to offer him.