While it is a time for celebration, it is equally important to prioritize substance by enhancing the concept of “ASEAN centrality” in relation to Australia’s policies. This involves elevating it to a strategic approach that addresses current economic, environmental and societal challenges, particularly amid escalating geopolitical tensions.

ASEAN, the third-largest economy in Asia and fifth globally, contributes significantly to global economic expansion with an above-average growth rate. As China's largest trading partner, it commands about 8 percent of global exports, with the United States as its primary investment partner and Europe also playing a significant role. This economic potential is not lost on the Australian government, which prioritizes investment in its new ASEAN strategy launched in 2023.

The Melbourne summit will highlight ASEAN's vital position as a growth hub and stabilizing factor in the region, carrying diplomatic weight in managing relations with major regional powers.

The frequent mention of “ASEAN centrality” is a key reference point in defining mutual interests between Australia and ASEAN. Yet, the translation of “ASEAN centrality” into tangible action to address forthcoming challenges will hinge on ASEAN and its key partners, including Australia, converting this rhetoric into a concrete and effective strategy.

With Donald Trump potentially securing a second term as US president, pressure from major powers on countries in the region to choose sides could escalate, risking the region's prosperity rooted in multilateral trade and economic interdependence. The fear is a divided economy eroding autonomy and limiting security measures.

Australia's prosperity and security are closely tied to those of its neighbors, with reciprocal implications. Australia can significantly boost regional prosperity through trade and investment, playing a crucial role in enhancing the economic well-being of its neighboring countries.