Anthony Albanese and Chinese President Xi Jinping have held a meeting in Bali in an “important step towards the stabilisation” of the badly tattered relationship between the countries.

The pair smiled as they shook hands in front of their nations’ flags in what is the first bilateral talks between Xi and an Australian prime minister in six years.

After the meeting, Albanese released a statement revealing a wide range of topics covered from Russia’s invasion of Ukraine to human rights issues.

“There are many steps yet to take,” Albanese said.

“We will cooperate where we can, disagree where we must, and engage in our national interest.”

Albanese has not commented on Xi’s responses during the meeting or the level of detail the discussions went into.

“China is a major power with global interests and it was valuable to exchange views on challenges to international peace and security, including Russia’s invasion of Ukraine,” the prime minister said.

“We also discussed bilateral, trade, consular and human rights issues, and looked forward to the 50th anniversary of diplomatic relations in December.

“I reaffirmed the Australian government’s view that it is in the interests of both sides to continue on the path of stabilising and developing our comprehensive strategic partnership.

“We are always going to be better off when we talk to each other, calmly and directly.”

‘We have had our differences’

Xi addressed the meeting first. A translation of his remarks was not immediately available.

Albanese acknowledged the countries “have had our differences” but said he was hopeful of “a constructive exchange and dialogue today”.

“I am very pleased that we are having this meeting here today,” Albanese said.

“It comes at a time of great global uncertainty. We’re facing challenges of COVID and the recovery, dealing with climate change, and also supply chain shocks. As we manage these challenges, we need to work towards a stable, prosperous and peaceful Indo-Pacific, and an international system that is governed by international law and the principles that are enshrined in the United Nations charter.

“We have had our differences, and Australia won’t resolve from our interests or our values, but our bilateral relationship is an important one. Both sides have worked to stabilise the relationship based upon mutual respect and mutual benefit.”

Anthony Albanese and Xi Jinping met in Bali. (Nine)

Albanese reflected on the 50-year milestone of diplomatic relations between the two countries, first established by former Labor Prime Minister Gough Whitlam in 1972.

“We agreed (in 1972) on principles to guide the relationship based on equality, mutual respect and benefit, and a commitment to co-exist peacefully, and these principles remain important today,” Albanese said.

“President Xi, I look forward to a constructive exchange and dialogue today. I thank you.”

Ahead of the meeting, Albanese had been cautiously optimistic about what he hoped to achieve.

“Having the meeting is a successful outcome,” he said on Monday night.

“Because for six years, we have not had any dialogue. And it is not in Australia’s interest to not have dialogue with our major trading partners.

“So, having the meeting, there are no preconditions for the meeting.”

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