Bidding will likely cost taxpayers tens of millions of dollars, but Australia's defence minister says a chance to return to the United Nations' top security table will be worth the price.

Australia is again attempting to win a two-year seat at the UN Security Council, with Prime Minister Anthony Albanese using a speech before the international body's General Assembly to confirm his nation's candidacy for 2029/30.

Australia last took a seat in the 2013/14 term after a multi-year bid championed by prime minister Kevin Rudd at a cost of about $25 million.

Without providing a budget for the forthcoming campaign, Defence Minister Richard Marles said the bid to secure a seat "isn't a particularly expensive exercise".

"When we ran last time, we were overwhelmingly supported to take our positi

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