"It will help determine the optimal pathway for acquiring nuclear-powered submarines for the Royal Australian Navy, one of the most important strategic military capabilities for Australia in the decades ahead," Sharma said as quoted by SBS World News.
According to national broadcaster SBS, Dave Sharma, the committee's chair and representative of the Liberal Party, said the agreement would provide access to vital information with Australia's security partners.
The committee will reportedly examine Australia's involvement in the AUKUS security pact on 29 November.
On Monday, Australian Defense Minister Peter Dutton signed the AUKUS Exchange of Naval Nuclear Propulsion Information Agreement jointly with UK High Commissioner Victoria Treadell and US Charge d’Affaires Michael Goldman.
In mid-September, Australia, the US and the UK announced the new trilateral defense partnership, which forced Canberra to give up on a $66 billion contract with France to develop 12 state-of-the-art conventionally powered attack submarines, as the alliance promises to enhance Australia's fleet with nuclear-powered submarines.
The announcement led to a diplomatic spat between France and the alliance members, with Paris notably temporarily withdrawing its ambassadors from Washington and Canberra. Earlier in November, French President Emmanuel Macron told reporters that he was certain that Australian Prime Minister Scott Morrison had lied to him.