ISLAMABAD  - Prime Minister Muhammad Nawaz Sharif Tuesday said that Pakistan and Australia needed to undertake serious efforts to open up new vistas and avenues for enhanced trade between the two countries.

He was talking to Australian High Commissioner Peter Heyward who called on him here at the PM House. He said bilateral trade between the two countries had been growing steadily over the past few years, however, he pointed that trade volume still remained far below its true potential.  He said Pakistan would like to welcome more Australian corporate entities to consider investment opportunities in its oil and gas, mining, power generation in hydel, thermal and renewable energy fields and agro-based industry. The Prime Minister said Pakistan attached importance to cordial ties with Australia, as both the countries shared common perceptions and enjoyed convergence of views on democratic values, war against terrorism, global peace and security and regional stability. Sharif said people of Pakistan were grateful to the government and people of Australia for acknowledging Pakistan’s human and economic sacrifices in its struggle to counter terrorism. Special Assistant to PM Tariq Fatmi was also present during the meeting.