Anthony Albanese and Jodie Haydon in Jakarta, Indonesia, for ASEAN summit

Anthony Albanese donned a traditional Indonesian shirt as he was joined by partner Jodie Haydon at the ASEAN summit in Jakarta.

The Prime Minister placed a protective arm around Ms Haydon – who wore a simple black dress with matching heels – as they walked the red carpet before being greeted by Indonesian President Joko Widodo.

Speaking at the summit, Albanese said security ties with the Indo-Pacific region will be strengthened alongside improved economic ties with Southeast Asian countries.

The Prime Minister unveiled Australia’s economic strategy for Southeast Asia to 2040, which sets out ways to increase trade links with the region’s fastest growing economy.

The report lists 75 recommendations aimed at boosting trade and investment ties with the region, which is expected to become the world’s fourth largest economy by 2040.

Early initiatives in the strategy include $95.4 million spent over the next four years on teams identifying investment opportunities, business exchange programs and pilot placement programs for young professionals.

Mr Albanese said the government would work to implement the 75 recommendations in an “orderly” manner, saying the strategy would also strengthen security ties with Asian countries.

“There is a complete nexus between the economy, economic relations and national security,” he told reporters in Jakarta.

“This is a positive report that will be viewed positively by all nations in Asia.”

Last year, Australia’s bilateral trade with ASEAN countries was about $178 billion, more than bilateral trade with Japan, the United States or the European Union.

However, Mr Albanese said trade ties with the region were weakened.

“Australia’s economic engagement in the region has not kept pace with the growth of Southeast Asian economies,” he said.

“The strategy we present today reflects an unchanging truth: this is where Australia’s economic destiny lies, and this is where our common prosperity can be built.”

Special envoy for Southeast Asia Nicholas Moore, who developed the strategy, identified 10 priority sectors for Australia, including agriculture and food, resources, infrastructure, energy and education.

The strategy also calls for additional efforts to remove trade blockages, including establishing an all-in-one service to foster foreign investment.

Expanding infrastructure partnerships with the region, with a combination of public and private funds, is part of the plan.

The prime minister said a streamlining of Indonesian visas to Australia was still under consideration.

“We have a migration review underway…my government is dealing with the issues in a logical and orderly way to ensure we make the right decisions,” he said.

Mr Moore said South East Asia held untapped potential for Australia.

“Our trade has remained steady as the region has grown. In fact, the decline in our investments is a problem,” he said.

At a business meeting in Jakarta coinciding with the launch of the strategy, the prime minister said net zero would be a key part of investments in the region.

“We know that as the planet moves towards carbon neutrality, here in this region there is a particular challenge,” he said.

“Because you want to go to net zero emissions while giving more of the population of Southeast Asia access to energy…this presents a challenge and presents a huge opportunity that we can to input.”

Albanese met Canadian Prime Minister Justin Trudeau on the sidelines of the ASEAN summit on Wednesday.

He will also have bilateral talks with the leaders of Laos, Malaysia and East Timor.

But despite improved trade relations with China following the removal of tariffs, the prime minister will not meet with Chinese President Xi Jinping, who will not attend the ASEAN summit or the upcoming summit. G20.

Premier Li Qiang will instead represent China at the G20.

“I’m sure in the next period, both here and at the G20, Premier Li will be there and we will definitely be in the same room,” Albanese said.

“China is of course our main trading partner. We support trade with China and we have solved some problems.

The Prime Minister also announced that ASEAN leaders would meet in Melbourne in March 2024, commemorating 50 years of Australia’s membership as an ASEAN dialogue partner.