Australia has offered to take a lead role in maintaining peace and stability in the region by proposing to host the 10 members of the Association of South-East Asian Nations at a special summit in 2018 to drive economic reform and counter the threat of terrorism and conflict.

With tensions over China's claims over the South and East China Seas splitting the 10-member ASEAN bloc, and fears of domestic terror attacks rife, Mr Turnbull stressed that without national security there could be no economic prosperity.