Improved ties with Indonesia would allow for Australia to better diversify its economy amid growing Indo-Pacific tensions, according to the prime minister.
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Anthony Albanese has wrapped up his two-day tour of Indonesia, declaring his first bilateral overseas visit as prime minister to have been a success.
The prime minister returned home on Tuesday night, landing in Darwin, following his trip to Jakarta and the eastern Indonesian city of Makassar.
He is set to meet with Northern Territory Chief Minister Natasha Fyles on Wednesday morning to announce plans for NASA rockets to be launched into space from the top end.
The prime minister will then travel to Sydney later in the day.
With Indonesia expected to be among the top five economies in the world, Mr Albanese said boosting ties with the Asian nation was critical.
"It is clearly in Australia's interest to boost that investment," he told reporters in Makassar.
"Australia in terms of Indonesia as a trading partner is 13th on our list. It should be much higher."
Mr Albanese was the first Australian prime minister to visit Makassar, indicating the country wanted to extend the relationship with Indonesia beyond just Jakarta and Bali.
The prime minister said he was looking to visit other regions of Indonesia upon his next visit to the country.
During the visit, he committed to attending the G20 summit being held in Bali in November, despite Russian President Vladimir Putin also being at the event.
With Indonesia hosting, Mr Albanese said the summit represented a major opportunity for the country.
He also pledged to broaden relationships with ASEAN, committing to ties with the Indo-Pacific.
Despite previous federal governments also looking to boost Indonesian opportunities, Mr Albanese said the government intended to make positive steps in the area.
"We've started getting it done, the presence here of not just myself but my ministers, business leaders as well, has sent a very clear message," he said.
"We're acting to make sure that we maximise the economic opportunities from engagement in our region, but also that we deal with the challenges which are here in our region."
The prime minister also indicated a delegation of Australian superannuation fund representatives would visit Indonesia in coming weeks to look at investment opportunities.
Australian Associated Press
