This comes at a significant time as both countries share a strong historical bond and mutual interests amid the geopolitical landscape.
Australia's University of Tasmania pro vice chancellor Prof Nicholas Farrelly expressed optimism about Malaysia's potential to influence regional cooperation, citing the long-standing and resilient relationship between Malaysia and Australia.
Relations between Malaysia and Australia predate Malaya's independence in 1957 and the formation of Malaysia in 1963.
Malaysia's chairmanship of ASEAN next year also coincides with the 70th anniversary of diplomatic relations between Malaysia and Australia.
Australia became ASEAN's first dialogue partner in 1974. The relationship was subsequently upgraded to strategic partnership in 2014 and later to a comprehensive strategic partnership (CSP) in 2021.
"It helps that Malaysia and Australia have been working together very closely now and for even longer than the relationship between Australia and ASEAN," Farrelly told Bernama when met here recently.
Canberra in recent years has shown great commitment to bolstering its relations with ASEAN through various initiatives, particularly in trade and investment, such as the "Australia's Southeast Asia Strategy to 2040" launched in 2023, to set out a practical pathway to increase Australia's two-way trade and investment with the region.
At a special summit marking their 50th anniversary of dialogue partnership in Melbourne in March this year, the Australian government announced A$2 billion Southeast Asia Investing Financing Facility (SEAIFF) to boost business engagement with Southeast Asia.
Farrelly stated that in the next 50 years, there would be more opportunities than challenges for ASEAN and Australia.
"I know on Australia's side, there is a big appetite for offering input and relevant support for ASEAN.
"So, as Malaysia takes on the responsibility of ASEAN chair at this significant moment of opportunity and challenge, I expect there will be more high-level exchanges and dialogues among community leaders of both sides to drive forward this conversation and inclusive engagements," he said.
Deputy executive director of Universiti Malaya's Asia-Europe Institute, Associate Prof Dr Roy Anthony Rogers, said the ASEAN-Australia relationship, shaped by a historical tapestry of security cooperation, remained pivotal for their future cooperation.
"Australia and ASEAN need each other to cooperate in the strategic and security areas.
"Based on experience during the WW2 (World War II), Australia considers Southeast Asia as an extremely important region, serving as a (security) buffer for Australia from any form of imminent threat or incidental threat towards Australia," he noted.
He also stressed the increasing importance of enhancing collaboration to address non-traditional security threats such as cybercrimes, climate change, pandemics, transnational crimes, drugs, and human trafficking.
-- BERNAMA
