The 1986 Austral-Asia Cup was held in Sharjah, UAE, between April 10–18, 1986.

Five national teams took part: Australia, India, New Zealand, Pakistan and Sri Lanka.

Sri Lanka qualified automatically for the semi-finals by virtue of winning the 1986 Asia Cup.

The tournament was played for the joint benefit of Vijay Hazare, Dilip Vengsarkar, Javed Miandad and Wazir Mohammad.

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