Australia is set to host the Quadrilateral Security Dialogue (QSD) on May 24, with the participation of US President Joe Biden, Indian Prime Minister Narendra Modi and Japanese Prime Minister Fumio Kishida.

The meeting will discuss pressure on the world economy imposed by inflation rates, said Australian Prime Minister Anthony Albanese in a press statement on Wednesday, quoted by ABC.

He noted that he looks forward to discussing with the leaders of the quadrilateral group how to create a security zone that everybody wants to live in in the Indian and Pacific Oceans, in cooperation with the Association of Southeast Asian Nations (ASEAN), the Pacific Islands Forum, Indian Ocean Rim Business Forum and regional partners.

The QSD talks were launched in 2007, however, the talks did not become more effective until China showcased its military strength in the South China Sea and clashing with India on the borders a decade later.

The member countries conduct joint marine military drills, the last one being in 2020.

They also cooperate on food security, inflation and information technology.

Source: Kuwait News Agency