"Here in the heart of our democracy it gives us the greatest pleasure to welcome you for the first time as sovereign," Anthony Albanese tells King Charles at the parliamentary reception.
"Since your first visit in 1966, you have been taken into Australian hearts, just as you have taken us into yours.
"You have known the great natural beauty of this continent in all its challenge and all its reward."
The PM said King Charles has the warmth, strength and humour of Australians.
The PM also spoke of the king's commitment to issues of climate change.
"You take seriously the threat that it represents as well as the necessity and crucially, the capability of humanity to take meaningful and effective action against it," he says.
"For a considerable time, you have also been a valued contributor to discussions on the urban environment and sustainability.
"You have also shown a deep and abiding interest in reconciliation and Aboriginal and Torres Strait Islander people. And you have shown great respect for Australians — even during times where we have debated the future of our own constitutional arrangements and the nature of our relationship with the crown."