Prime Minister Malcolm Turnbull and French President Emmanuel Macron have signed a deal to develop a quantum computer chip.
Australia and France will work together on ground-breaking quantum computing research in a bid to develop a commercialised quantum silicon circuit.
Prime Minister Malcolm Turnbull and French President Emmanuel Macron on Wednesday signed a memorandum of understanding forming a joint venture in silicon quantum computing.
It will bring together Australia's first quantum computing company, Silicon Quantum Computing, and world-leading French research organisation the Commissariat a l'Energie Atomique et aux Energies Alternatives.
"The work at Silicon Quantum Computing in Sydney is world leading and vital to Australia's innovation and science agenda," Mr Turnbull said in Sydney on Wednesday.
Quantum computing solves equations significantly faster than traditional computer chips, but the field is still in an early stage.
Under the deal, the two nations will try to develop and commercialise a quantum silicon integrated circuit.
They aim to form a global player in the manufacture and industrialisation of quantum computing hardware.
"Quantum computing promises to revolutionise the IT industry," Australian of the Year Michelle Simmons said.
Professor Simmons is a director and founder of Silicon Quantum Computing, and said the company is moving rapidly to commercialise the technology.