By Mikhail Flores

MANILA (Reuters) -The Philippines and Australia are working towards a new defence agreement to be signed next year, their defence ministers said on Friday, as both nations seek to step up military cooperation to deal with shared security challenges in the Indo-Pacific.

Philippine Defense Secretary Gilberto Teodoro said the enhanced defence cooperation pact will pave the way for more frequent joint military drills aimed at boosting combined operational capability and strengthening regional deterrence.

Australian Defence Minister Richard Marles, who is in Manila for a ministerial meeting, said the agreement would also support the development of defence infrastructure in the Philippines, with projects planned at five locations. He did not provide details.

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