The prime minister met with his Solomon Islands counterpart Matthew Wale on the sidelines of the UN General Assembly in New York on Tuesday morning AEST.
It is the third time the two leaders have met in almost as many months since Mr Wale was sworn in as prime minister in May.
The pair was due to have met at the Pacific Islands Forum in Palau earlier in September, but Mr Wale was forced to pull out from the summit at the eleventh hour due to a no-confidence motion being filed against him in parliament.
The motion was later withdrawn.
"I'm sorry that we didn't catch up in Palau, but it's understandable, but your delegation was certainly there, and I was able to catch up with your ministers," Mr Albanese said in opening remarks to the bilateral meeting.
"A comprehensive treaty ... will be transformational.
"We want to be the partner of choice when it comes to the Pacific."
Australia has been seeking to sign treaties and agreements with countries in the Pacific to curb the influence of China in the region.
China had signed a security pact with the Solomon Islands in 2022, but Mr Wale said the strongest partnership remained with Australia.
"Our relationship is deep, you are our partner of choice, by sheer longevity and persistence and perseverance on both sides, and we appreciate that very much," Mr Wale said.
"Nothing's going to change any of that, but of course, there is much work yet to be done to continue that relationship and to continue to deepen it and strengthen it."
Mr Wale issued a light-hearted apology to Australia's prime minister following the pair's last in-person meeting in Honiara.
Mr Albanese was a guest at Independence Day commemorations in the Solomon Islands, where Mr Wale gave a speech to the crowd that went for more than an hour.
The Solomons leader said his upcoming speech at the United Nations General Assembly, his first as prime minister, would not be as long.
"I'm looking forward to enjoying giving a few speeches here and there nothing as eloquent as (Mr Albanese's)," he said
"I made a promise I won't do another Fidel," making reference to former Cuban leader Fidel Castro.
Mr Castro delivered the longest timed speech in UN history in 1960, speaking for 4.5 hours.
Delegates are told to keep their speeches to no more than 15 minutes.
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