Australian Foreign Minister Penny Wong on Tuesday said that they would take measures to deepen the economic engagement with Bangladesh as both countries share a region, thus sharing a future.
"We share a region, we share an ocean and we share a future," she told reporters after her meeting with Foreign Minister Dr Hasan Mahmud at the state guesthouse Padma.
She arrived on Tuesday morning for a two-day visit.
During the meeting, they discussed a whole range of bilateral as well as regional issues including the Rohingya crisis.
Dr Hasan Mahmud said: "We have a warm relationship between our two countries, which is founded on more than 50 years of diplomatic relations."
Economic engagement
The Australian minister said they can work with Bangladesh and other partners to ensure a region that is "peaceful, that is stable and that is prosperous".
"Like Bangladesh, Australia understands the importance of the multilateral system. We understand the importance of upholding international rules and norms," she said, adding: "We are deepening our economic relationship."
"Australia will provide additional funding for technical education and training colleges. We will provide additional funding to Austrade, the Australian trade agency, to deliver deeper economic engagement. We will provide additional economic assistance to support your economic reforms, to support your graduation from the developing country status.
"And we will provide additional funds to help Bangladesh align its labour laws with the requirements and aspirations of that graduation.
"Equally, we are working on practical, shared solutions to climate change, to regional maritime security and people smuggling. And all of these challenges, we understand, cannot be dealt with by a single country in isolation," she said.
"They require partnership and collaboration. And we are very keen to deepen our cooperation, to strengthen our cooperation with the Bangladesh government in this area, particularly between our coast guards."
Rohingya crisis
They also discussed the regional challenges posed by the conflict in Myanmar and in particular the displacement of the Rohingya, the largest humanitarian crisis in the region.
"I want to express Australia's recognition of and appreciation for your government and your people in providing, in hosting so many Rohingyas," the visiting minister said.
"And we will continue to work with you not only to provide assistance to you and to these displaced communities, but to maintain focus on this critically important issue to our region, which is what is occurring in Myanmar," she said.
"We need a safe and enduring solution to the crisis that allows the Rohingya to realise their goal of a safe return to their homeland."
She will travel to Cox's Bazaar to see firsthand how the Australian assistance is being delivered through partners.
"And we want to continue to offer support, including practical support."
Australia has provided over 860 million Australian dollars over six years for the Rohingya humanitarian support.
"It is a substantial investment because we understand the importance of it. And we will continue to work with Aseans and other countries of the region to try and encourage the resolution to the conflict in the Asean, Myanmar and the regime being held to account for its behaviour which has caused this humanitarian crisis," she said.