Free trade is top of Tony Abbott's agenda as he continues to meet with Asia Pacific leaders at a major international summit in Bali.
Free trade has been the focus of Prime Minister Tony Abbott's first full day of meetings with regional leaders in Bali.
Mr Abbott says his government is confident the ambitious 12-nation regional deal known as the Trans-Pacific Partnership (TPP) can be progressed at this week's APEC summit despite the absence of its chief advocate, US President Barack Obama.
He has also declared he wants to overcome years of stalemate to secure an Australia-China free trade agreement (FTA) within 12 months.
The prime minister made the declaration after holding his first talks with Chinese President Xi Jinping on Sunday. The Chinese leader used the meeting to invite Mr Abbott to visit China next year.
Mr Abbott says it would be great if that trip could be "consummated" with a finalised FTA, although he admits that's probably too optimistic.
But he's still pushing for a swift conclusion to the negotiations, which began in 2005 and have dragged on through nineteen rounds of talks.
"I would be disappointed if we can't conclude a significant free trade agreement within 12 months," Mr Abbott said.
But he admits that may mean the deal isn't as comprehensive as originally planned.
"I've always taken the view that you should take what you can get today and pitch for the rest tomorrow when you've got a strong foundation to build upon," he said.
Mr Abbott is also upbeat about the TPP after he was briefed on the negotiations by Trade Minister Andrew Robb. Leaders had hoped to conclude the TPP this year but the talks have hit a number of stumbling blocks.
Mr Obama's decision to cancel his attendance at APEC to deal with the US government shutdown has dealt a further blow to the talks.
"Inevitably there are issues - there always are," Mr Abbott said.
"But in the end if you can come to a deal everyone is better off."
The TPP was also a focus of Mr Abbott's meeting his with Canadian counterpart Stephen Harper.
While the conservative leaders share a lot in common, they do differ on Sri Lanka. Mr Harper confirmed on Monday he will not attend the Commonwealth Heads of Government Meeting (CHOGM) in Colombo next month due to ongoing human rights concerns.
Mr Harper said that when Sri Lanka was selected as host he'd hoped it would seize the opportunity to improve human rights conditions and take steps towards reconciliation, following the bloody 2009 end to the country's long-running civil war against Tamil separatists.
"Unfortunately, this has not been the case," Mr Harper said. "Canada is deeply concerned about the situation in Sri Lanka."
Mr Abbott said Mr Harper's decision was a matter for him.
"But certainly I intend to attend CHOGM and will do my best to make a constructive contribution to the deliberations there," he said.
Mr Abbott also met with Thailand's Prime Minister Yingluck Shinawatra, undertaking to visit the South-East Asian nation in the future.
Mr Abbott is also due to meet with the leaders of Papua New Guinea, Malaysia and Mexico, as well as US Secretary of State John Kerry, before APEC wraps up on Tuesday.