Australia is set to make a provision of 36.5 million Australian dollars (26 million U.S. dollars) over five years to support maritime security and disaster management in the Northeast Indian Ocean.
This was made public by Marise Payne, Australian Foreign Minister, in 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.
The reports revealed that Australia plans to do so by investing in maritime and disaster preparedness, as well as fostering trade, investment and connectivity.
The statement said Australia would 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 address regional economic challenges better 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.