Leaders from the Asia-Pacific Economic Co-operation group are meeting in Bali to review the state of the world economy, and to discuss a series of bilateral issues.
The talks follow a statement by APEC foreign and trade ministers on the weekend, that the world economy can ill-afford more uncertainty following the 2008 financial crisis.
Thea Cowie has the details.
Australia is "open for business".
That was a phrase in Tony Abbott's victory speech on election night, and a message he says he'll be repeating to his Asia Pacific counterparts while in Bali for the APEC summit.
"It is important that we increase trade and investment in our region. The prosperity of each country in the region, including Australia, critically depends on increased trade and investment."
Mr Abbott has already held bilateral talks in Bali with China's President Xi Jinping.
He says he'd be disappointed if Australia couldn't conclude a significant free trade agreement with the Asian giant within 12 months.
And Mr Abbott says he'll be leading a delegation of business and government representatives to China next year.
Host of the APEC summit, Indonesian President Susilo Bambang Yudhoyono, is urging member states to work together for the good of the region.
"We all need to do out part to prevent protectionist policies and continue on our path of trade liberalisation. Indonesia envisions the future of this region as prosperous, stable, dynamic, inclusive and forward-looking. Our objective is to make the region the epicentre for the world economic advancement."
The APEC summit comes as Australia and other 11 nations continue negotiations on what's being called the Trans-Pacific Partnership free trade agreement.
The US and Australia are eager to sign off on the deal in the next 12 months but Malaysia says it will probably take longer.
Economics and trade have not been the entire focus of Tony Abbott's visit to Bali.
On the weekend, three West Papuan activists climbed into the Australian consulate on the island, calling on Australia to push the Indonesian government into increasing freedoms in their province, including the release of what they say are dozens of political prisoners.
Mr Abbott says they will not get any sympathy from Australia.
"We have a very strong relationship with Indonesia and we are not going to give people a platform to grandstand against Indonesia. I want that to be absolutely crystal clear. People seeking to grandstand against Indonesia please don't look to do it in Australia. You are not welcome."
The Abbott government says the trio left the Australian consulate willingly, but there are allegations that officials threatened to hand them over to the Indonesian army and police if they didn't leave.
Australian Greens Senator Richard Di Natale:
"We've now had it confirmed from one of the West Papuan activists that that's what happened. It's in direct conflict with the claims made by Andrew Robb - the Trade Minister - who said they left voluntarily. I mean that simply beggars belief that three West Papuans would climb over the wall to get into the consulate in Bali knowing that making the statements would put their lives at risk and that they'd simply walk out."
Australia is bound by a bilateral treaty with Indonesia which prevents activities in Australia that constitute a threat to Indonesia's sovereignty.
And just last week Tony Abbott assured President Yudhoyono that he's committed to it.
After APEC finishes in Bali, Mr Abbott will be heading to Brunei for an East Asia Summit.
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