ASEAN, Australia set to talk economy amid geopolitical pressure

JAKARTA – In what has been dubbed one of ASEAN’s most important diplomatic agendas of the year, Southeast Asian leaders and Australian Prime Minister Anthony Albanese will convene from Monday to Wednesday in Melbourne to discuss the future of their partnership.

Talks on economic growth and regional cooperation are at the heart of Canberra’s agenda for the ASEAN-Australia Special Summit, though many expect the shadows of the region’s geopolitical tensions to loom over the three-day discussion.

“Building Australia’s links with the countries of Southeast Asia is a priority for the government,” Albanese said in a press statement ahead of the summit. “Australia sees ASEAN at the center of a stable, peaceful and prosperous region.”

With deepening financial ties in mind, the Australian government said that it had prepared a string of meetings and events for ASEAN leaders to discuss the Southeast Asia Economic Strategy to 2040 that it launched last year, a document outlining 12 major sectors that Canberra has deemed key to boosting growth and cooperation between countries.

In recent years, ASEAN has been among the world’s fastest-growing regions, suggesting that it could be a key driver of global economic growth in the coming decades. Many countries, including Australia, have intensified their efforts to engage with the region, especially in light of a major power rivalry between the United States and China.

The summit, which will also celebrate the 50th anniversary of the ASEAN-Australia bilateral relationship, will focus avenues of economic cooperation for the next 50 years, according to a statement from the Australian government.

Among the key topics that Canberra has highlighted for the summit are trade, investment, climate change, the energy transition and maritime security.