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.