The bilateral agreement with Greece brings the total number of countries participating in the Working Holiday Maker program to 43.
The Australian government has announced the finalisation of a bilateral agreement with Greece that will allow young Australians to more easily work and study in the European country.
The Work and Holiday Visa agreement between the two countries has been in the works since 2014. In December 2015, the agreement was ratified by a large majority of the Greek Parliament.
It will come into effect from July 1 this year.
Under the arrangement, 500 places will be made available in each country annually for Greek and Australian citizens between 18 and 30-years-old to live abroad for 12 months under the 462 visa.
The agreement was finalised after a series of delays during the Greek Deputy Foreign Minister Terens Quick's visit to Australia.
“Australia enjoys a great friendship with Greece and there has been much interest from Greece in participating in the Work and Holiday visa program. This announcement will provide more opportunities for work and cultural exchange between our nations," Minister for Immigration, Citizenship and Multicultural Affairs David Coleman said in a statement on Monday.
“The Morrison Government is committed to the working holiday program which provides regional areas and farmers with access to more workers."
Melbourne is home to the largest Greek population, outside of Greece, in the world.
In order to become eligible for a second working visa, Greek nationals would have to perform specified work in regional areas. If they perform six months of regional work in their second year, they will be eligible to extend their stay in Australia for a third year.
The announcement takes the number of countries participating in the Working Holiday Maker program to 43.