Pakistan, Australia to Enhance Bilateral Cooperation, Strengthen Economic Ties

Islamabad, 25th May 2023:

Pakistan and Australia have agreed to expand bilateral cooperation in various fields, including trade, investment, education, and defense. This development was announced following a meeting between Pakistani Prime Minister Shehbaz Sharif and Australian Prime Minister Anthony Albanese in Islamabad.

Key Points:

• Pakistan and Australia have signed a Memorandum of Understanding (MoU) to enhance cooperation in the field of education.
• Both countries have agreed to strengthen defense ties and collaborate on counter-terrorism measures.
• Australia has expressed interest in investing in Pakistan's energy and infrastructure sectors.

During the meeting, PM Sharif emphasized the importance of strengthening economic relations between the two countries. He invited Australian businesses to invest in Pakistan's growing economy, particularly in the areas of renewable energy, mining, and agriculture.

PM Albanese welcomed Pakistan's invitation and expressed Australia's commitment to supporting Pakistan's economic development. He also announced that Australia will provide financial assistance to Pakistan for infrastructure projects and capacity building initiatives.

In the field of defense, Pakistan and Australia agreed to enhance cooperation in counter-terrorism and maritime security. Both countries also discussed the situation in Afghanistan and stressed the need for a stable and peaceful Afghanistan.

The meeting between PM Sharif and PM Albanese is a significant step towards strengthening the bilateral relationship between Pakistan and Australia. The agreements reached during the meeting are expected to boost trade, investment, and cooperation in various fields, benefiting both countries.