By Biodun Busari 

Australian Prime Minister Anthony Albanese has said he will host the United States President Joe Biden for a security summit in May. 

Albanese, on Wednesday also said his counterparts in India, Prime Minister Narendra Modi and Japanese Prime Minister Fumio Kishida will be at the summit. 

According to ABC News, the meeting to hold at Sydney Opera House is slated for May 24 and will be Australia’s first time hosting the Quad Leaders’ Summit. 

Albanese attended a summit in Tokyo hours after he was sworn in as prime minister following elections last year.

“We will be discussing the global economic environment that we know is under pressure due to global inflationary pressures,” Albanese told reporters.

“We know that we live in a more insecure world with strategic competition in our region, with the ongoing impact of the Russian invasion of Ukraine,” Albanese added.

“The Quad partners were deeply invested in the success of the Indo-Pacific. The Quad was committed to supporting an open, stable and prosperous Indo-Pacific that is respectful of sovereignty and ensures security and growth for all.”

“I look forward to discussing with Quad leaders how we – alongside important regional institutions, such as ASEAN, the Pacific Islands Forum, the Indian Ocean Rim Association and our regional partners – can shape the Indo-Pacific region we all want to live in,” Albanese said.

Albanese said he would visit the US when Biden hosts the Asia-Pacific Economic Cooperation forum summit in San Francisco in November and has also been invited for a bilateral meeting with the president, details of which had yet to be finalised.

Albanese last visited the US in March when he, Biden and British Prime Minister Prime Minister Rishi Sunak announced details of the so-called AUKUS partnership that will deliver Australia eight submarines powered by US nuclear technology.

Meanwhile, when asked about Biden re-election bid, Albanese declined to comment on Biden’s decision’s to run for a second term as president.

“President Biden, I regard as a friend. And he’s certainly a friend of Australia,” Albanese said.

“I don’t comment on the internal politics of the United States. That is a matter for the people of the United States. Can I say this? President Biden will be a very welcome visitor here in Australia,” Albanese added.