Prime Minister Anthony Albanese will celebrate stronger ties with one of Australia’s closest partners in Asia, but another relationship with a long-standing ally is far from smooth sailing.

Albanese will kick off his visit to the Philippines on Sunday with the signing of a defence pact representing a new high water mark in military cooperation between Canberra and Manila.

Meanwhile, the prime minister might be hoping to discuss rocketing fuel prices and tariff concerns when he and US President Donald Trump meet on the sidelines of the ASEAN summit.

Prime Minister Albanese is celebrating stronger ties with one of Australia’s closest Asian partners. Photo: AAP

Sunday marks the 80th anniversary of diplomatic relations between Australia and the Philippines.

Albanese will emphasise the strong people-to-people links between the two countries, as well as military ones.

Over 400,000 people living in Australia were born in the Philippines, making it the country’s fifth largest diaspora community.

The two nations also share security concerns about China’s growing militarisation of the South China Sea, particularly in an area determined by the UN in 2016 as Filipino territorial waters.

The importance of maritime security has been brought into stark relief since the US-Israeli war prompted Iran to weaponise the Strait of Hormuz and cripple global commerce.

Far away from the Middle Eastern waterway in Manila, the impacts are still being acutely felt.

The prime minister may raise trade and fuel prices when he meets with US President Donald Trump. Composite image: AAP

Inflation galloped to 7.8 per cent in October, from 2.4 per cent pre-conflict, according to the Philippines Statistics Authority.

Back home, persistent cost-of-living pressures have weighed on Albanese’s popularity.

Published opinion polls show Labor’s primary vote share slipping further down and economic concerns opening a door for the coalition.

There’s little Albanese and Filipino President Ferdinand Marcos Jr can do about sky high fuel prices.

But Albanese could get a chance to raise his concerns directly with US President Donald Trump at a Quad leaders’ meeting on the sidelines of the ASEAN summit in Manila.

Trump’s tariffs also threaten Australian exporters at a time when producers are already doing it tough.

A tied vote by the US International Trade Commission leaves Trump with the final say on whether another impost will be slapped on Australian lamb exporters.

The US is the largest export destination of Australian lamb, buying more than 100,000 tonnes or $1.6 billion per year.

Environment Minister Murray Watt said it would be “a very disappointing decision for Australian farmers and the Australian economy”.

“Australia exports very high-quality lamb to the US and many other countries around the world, and we’re proud of the efforts of our farmers in doing so,” he told reporters on Saturday.