Australia will provide 36.5 million Australian dollars (26 million U.S. dollars) over a five-year period to support maritime security and disaster management in the Northeast Indian Ocean.
Marise Payne, Australian Foreign Minister, had issued a joint statement with Dan Tehan, Minister for Trade, Tourism and Investment and Water Keith Pitt, Minister for Resources, pledging to enhance Canberra’s engagement across the region.
This it plans to do by investing in maritime and disaster preparedness, as well as fostering trade, investment and connectivity.
The statement said Australia will provide 36.5 million Australian dollars over five years, including 11.4 million Australian dollars to improve regional cooperation on maritime shipping, disaster resilience and information sharing.
The government will provide 10.2 million Australian dollars to better address regional economic challenges and seek new opportunities in the digital areas in Bangladesh.
“The Morrison Government will invest 4.8 million Australian dollars (3.4 million U.S. dollar) to improve Australian resources and mining equipment, technology and services and understanding of South Asian markets.
“A further 4.3 million Australian dollars (3 million U.S. dollar) will support relationships across the Liquefied Natural Gas (LNG) supply chain between Australia, India and Bangladesh,” the statement added.