Australia and the Philippines today agreed to hold annual defence ministers' meetings as the two nations upgraded bilateral ties to a strategic partnership amid rising security challenges in the region, including in the South China Sea.<br />'' <br />''Australian Prime Minister Anthony Albanese signed a strategic partnership agreement with Philippine President Ferdinand Marcos Jr. during his trip to Manila, the first visit by an Australian leader in 20 years.<br />'' <br />''<span style="color: #222222;">The Philippines last month held military exercises near the South China Sea with Australia, its second-largest partner in defence security. It is also one of only two bilateral partners with whom the Philippines has a Status of Visiting Forces Agreement, which allows two countries to undertake joint exercises, high-level visits, dialogues and exchanges.</span><br />