MELBOURNE -- Australian Prime Minister Anthony Albanese on Saturday expressed the wish to see stronger ties between Australia and China.

Speaking at a Chinese New Year celebration event in Melbourne, Albanese said it is in the interest of both Australia and China to be "great friends and that the Australian government is committed to stabilizing relations and cooperation between the two sides.

The prime minister said that economic ties between the two countries are very important as Australia exports products such as beef, lobsters and wine to China.

He stressed that in comparison with the economic ties, the relationship between the two peoples is even more important.

"Chinese culture has enriched Australia and broadened our horizons," he said, adding that the Chinese New Year celebrations are part of Australia's cultural heritage.

At the event, Australia's opposition leader Peter Dutton said Chinese New Year is a wonderful opportunity to celebrate a connection between Australia and China.

"The future, which is the most important element of this relationship, is brighter than it's ever been before," Dutton said.

The event was held by the Asian Business Association of Whitehorse, a non-profit organization to promote and facilitate trade and investment between Australia and China.