The G20 meeting of leaders from the world's major economies has wrapped up in Bali following two days of discussions.
Mr Albanese pushed to establish trade deals with Europe as his time at the G20 summit finished.
He put his Italian heritage front and centre during talks with his European colleagues while progressing discussions on Australia's free trade agreement with the European Union.
Meeting his new Italian counterpart Giorgia Meloni for the first time in an informal pull aside, Mr Albanese discussed his connection to Italy and the strength of trade relationships that could be grown.
Ms Meloni was elected Italy's first female prime minister in October.
Wednesday's schedule was initially overshadowed by reports of a missile explosion in Poland, near the border of Ukraine.
A leaders statement released at the end of the summit said "most members" strongly condemned the war in Ukraine.
Mr Albanese said reports about missile attacks in Poland, which killed two people near the Ukrainian border, were "deeply concerning".
"We need to have a full investigation as to how this has occurred ... and then we should consider what, as an international community, is an appropriate response," he said.
The prime minister earlier met European Council president Charles Michel and European Commission president Ursula von der Leyen on the sidelines of the summit.
"Australia has such strong ties with Europe. Indeed, we have a prime minister with a name like Albanese and a large diaspora in Australia from throughout Europe," Mr Albanese said.
Mr Michel said Australia and Europe shared the same values and wanted peace and prosperity.
"It is so important to show our unity and our determination (and) to convince Russia to end this war as soon as possible," he said.
Mr Albanese will have formal bilateral talks with British Prime Minister Rishi Sunak, French President Emmanuel Macron and Indian Prime Minister Narendra Modi later in the day.
The talks follow an emergency leaders' meeting involving the United States, Germany, Canada, the Netherlands, Japan, Spain, Italy, France and the United Kingdom about the missile strikes.
US officials later said initial findings suggested the missile was fired by Ukrainian forces at an incoming Russian missile, however an investigation continues.
Leaders earlier gathered at a mangrove forest in Bali which plays a crucial role in climate change mitigation.
Indonesian President Joko Widodo has been keen to showcase his commitment to tackling the global issue and encourage his fellow leaders to do the same.
They planted new mangrove trees together in a symbolic show of unity on climate change action and will next take part in a summit session about digital transformation.
Sergei Lavrov, who headed the Russian delegation to the summit in the absence of President Vladimir Putin, left Bali on Tuesday night.
Mr Widodo handed the G20 baton to Indian Prime Minister Narendra Modi, who will host next year's summit.
with Reuters
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