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Aquatic animal disease outbreaks affect both the public (represented by the government) and the private sector (represented by the aquaculture and fisheries industry). However, all too often, the responsibilities and costs of responding to an outbreak may not be shared. Without a mechanism for public and private sectors to work together, the outcomes of an emergency response may not be ideal, or of common benefit to all potentially affected parties. In Australia, a mechanism is being developed for public and private sectors to share the responsibilities and costs of responding to aquatic animal disease outbreaks, through an industry- government aquatic emergency animal disease response agreement. The agreement provides an approach for both public and private sectors to share the responsibilities and costs of responding to a disease outbreak and to coordinate disease prevention activities to reduce their shared risk. The key elements of the agreement include provisions to incentivise faster notification of disease outbreaks, facilitate a faster response, share decision-making and costs (including compensation for affected businesses), clarify the responsibilities of all parties and, most importantly, strengthen risk mitigation activities. This paper describes how the draft agreement has been developed among 18 industry and government parties, how key elements of the agreement may contribute to improved aquatic animal health outcomes, and the principles which could be applied by other OIE Member Countries.