The Albanese Government is establishing a $2 billion investment financing facility to boost investment in Southeast Asia as part of a suite of economic initiatives announced at the ASEAN-Australia Special Summit in Melbourne.

Australia's two-way investment with ASEAN was worth $307 billion in 2022. Two-way trade with ASEAN accounted for $178 billion in 2022, accounting for 15 per cent of Australia's trade, which is greater than our trade with Japan or the United States.

Ministerial colleagues, Mr Nicholas Moore and distinguished guests, it is an honour to be here with some of Southeast Asia and Australia's most eminent business leaders.

I'm pleased to welcome you to the great city of Melbourne for the ASEAN-Australia Special Summit to commemorate 50 years of Dialogue Relations.

I begin by acknowledging the Traditional Owners of the lands on which we meet — the Wurundjeri Woi-wurrung people — and I pay my respects to their Elders, past and present.

Prime Minister Anthony Albanese met today with the Prime Minister of Singapore, His Excellency Lee Hsien Loong, for the 9th Australia-Singapore Annual Leaders' Meeting.

Australia and Singapore share a partnership that is remarkable in its breadth and depth, grounded in trust and respect.

1. The Prime Minister of Singapore, His Excellency Lee Hsien Loong, and the Prime Minister of Australia, the Hon Anthony Albanese MP, met for the 9th Australia-Singapore Annual Leaders' Meeting in Melbourne on 5 March 2024.
2. Prime Minister Albanese was pleased to welcome Prime Minister Lee to Melbourne for the ASEAN-Australia Special Summit. The Leaders agreed on the importance of working closely with partners in Southeast Asia to ensure the region remains stable, peaceful and prosperous.

ANTHONY ALBANESE, PRIME MINISTER OF AUSTRALIA: Well, thank you very much, and it's been an honour to meet with Prime Minister Anwar Ibrahim, here in Melbourne for the second Australia-Malaysia Annual Leaders Meeting, and to welcome him and his delegation to Australia for the upcoming ASEAN-Australia Special Summit to commemorate 50 years of us being, Australia being, a dialogue partner of ASEAN. Malaysia is one of Australia's oldest and most important friends in the region.

1. The Prime Minister of Australia, The Honourable Anthony Albanese MP, welcomed the Prime Minister of Malaysia, The Honourable Dato' Seri Anwar bin Ibrahim, to Melbourne for the 2nd Australia-Malaysia Annual Leaders’ Meeting on 4 March 2024.
2. The Leaders noted the excellent state of the bilateral relationship and acknowledged their countries’ shared interests in regional stability, respect for sovereignty and fostering shared economic prosperity.

Prime Minister Albanese hosted Malaysian Prime Minister the Honourable Anwar Ibrahim for an official visit to Australia in Melbourne today. The two Prime Ministers held the second Australia-Malaysia Annual Leaders Meeting.

Malaysia is an important regional partner and friend to Australia. Leaders discussed their desire to bring our people and economies closer together, guided by our Comprehensive Strategic Partnership and Invested: Australia’s Southeast Asia Economic Strategy to 2040.

The Prime Ministers agreed to a range of initiatives to achieve this vision.

WILL GOODINGS, HOST: Well, the Prime Minister has called in to the program this morning because he's at ASEAN this morning and he had a couple of spare moments. Prime Minister, good morning to you.

CRAIG REUCASSEL, HOST: Good morning. Happy birthday, Prime Minister.

ANTHONY ALBANESE, PRIME MINISTER: Good morning, Craig, thank you very much. And congrats on the relatively new gig. Good to talk with you.

MONIQUE WRIGHT, HOST: And the polling booths have opened for today's Dunkley by-election. Joining us from Frankston is the Prime Minister, Anthony Albanese, on his birthday. Happy birthday to you, Prime Minister. Lovely to see you.

ANTHONY ALBANESE, PRIME MINISTER: Good morning. And thank you for the birthday wishes.

WRIGHT: I hope it's a lovely day. Gosh, a winner. Be nice for you, wouldn't it? I want to take you back to last week when we talked to you.

PRIME MINISTER: Well, guess what I want?