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The Australian Prime Minister hosted a lunch at the Parliament house in Canberra in the honour of the visiting Pakistani President. President Musharraf and Prime Minister John Howard held formal talks on imparting a new boost to bilateral ties through increased trade. They also exchanged views on a host of regional and international issues, Pakistan- & India Peace process, Afghanistan, fight against terrorism and nuclear non-proliferation. Australian Prime Minister John Howard described President General Pervez Musharraf's visit as a milestone in invigorating Pakistan-Australia relationship in the years ahead. He was addressing a joint Press conference with President Musharraf, at the conclusion of formal talks at the Parliament House. "Pakistan and Australia have a long history of relationship and now these would be further strengthened through trade and economic cooperation," he said. Howard said he would encourage Australian entrepreneurs to explore investment opportunities in Pakistan. The Australian leader appreciated President Musharraf's courageous and crucial role in the fight against terrorism and also expressed praise for his efforts for establishment of peace in the region and improvement of relations with India.
Prime Minister Howard described the inking of memoranda of understanding on counter-terrorism and agricultural cooperation and an agreement on fostering ties in security and investment commissions of the two countries as very important and signifying increasing cooperation between the two countries. "We look forward to consolidating strong ties with Pakistan," he said. President Musharraf said there are a lot of complementarities on which the two countries can build a vibrant cooperation through increased trade, joint ventures, investment and enhancement of volume of exports from Pakistan to Australia. Replying to a question, John Howard agreed with President Musharraf's call that extremism and terrorism have to be addressed in the long-term perspective.