Prime Minister Anthony Albanese is slated to discuss cooperative strategies on critical minerals and Pacific Islands infrastructure with US President Joe Biden during his forthcoming visit to Washington this week.
The agenda of the meeting is tailored to expand the existing security alliance into a multifaceted economic and technological partnership.
Central to this agenda is a critical minerals task force, backed by an additional A$2 billion Australian financing package, aiming to spur private investment in Australia's rare earths sector and decrease global dependence on China.
"Australia will help to build supply chains with the United States and support our shared clean energy, manufacturing and defence ambitions," stated Albanese.
Ehanced cybersecurity collaboration
According to a senior Biden administration official, the talks will also address enhanced cybersecurity collaboration, complementing a previously announced US$5 billion investment by Microsoft (NASDAQ:MSFT) in Australia.
Mira Rapp-Hooper, special assistant to the president, underscored that both leaders are committed to maintaining a strategic focus on the Pacific Islands.
Tensions in the South China Sea and the AUKUS defence technology partnership are also slated for discussion.
The partnership, which aims to sell Australia nuclear-powered submarines, faces legislative obstacles in the US Congress.
The bilateral meeting comes in the wake of Washington's recently inked defence cooperation agreement with Papua New Guinea, signifying the growing geopolitical importance of the Indo-Pacific region.
Albanese is set to visit China, Australia's largest trading partner, on November 4. No agreements with the US Department of Defense on critical minerals are anticipated this week.