Forward Tahura Khatun netted twice for Bangladesh while Claudia Mihocic and Paige Zois scored one goal each for Australia.
In the day’s other match, three-time champions Japan crushed hosts Thailand by 8-0 goals at Chonburi Stadium.
With the feat, Japan sailed into the semis as Group A champions securing 7 points from all three matches while Australia also reached semis as the runners-up earning 5 points from all three matches.
Among other two teams of the group, Thailand finished 3rd securing 3 points and Bangladesh finished 4th earning one point.
At IPE Chonburi Stadium, forward Tahura Khatun opened account for Bangladesh scoring her first goal of the match, utilizing a pass from Ritu Porna Chakma in the 20th minute (1-0).
Australia came alive and started put pressure with attacking football but Bangladeshi defenders provided them real tough challenge and foiled most of their efforts.
In the 2nd half, Australia continued their domination and finally got the breakthrough while Claudia Mihocic bundled in a corner kick, delivered sweetly by Lowry, to level the match in the 77th minute (1-1).
But just after one minute, Bangladesh doubled the margin while Tahura netted her 2nd goal in the 78th minute (2-1).
Australia got the relief after two minutes while Paige Zois leveled the margin 2-2 with her long range strike in the 80th minute.
Bangladesh, which put in four-team Group A alongside hosts Thailand, Australia and Japan conceded a 0-1 goal defeat against hosts Thailand in the 1st match on Sunday and conceded 0-9 goals defeat against three times champions Japan in the 2nd match on Wednesday.
Bangladesh: Rupna Chakma, Anai Mogini, Nazma, Mossammat Akhi Khatun, Nilufa Yesmin Nila, Monika Chakma, Maria Manda, Tohura Khatun, Sajeda Khatun, Ritu Porna Chakma, Mosamamt Sultana.
Australia: Miranda Elizabeth Templeman, Kirsty Jane Fenton, Jessika Jayne Nash, Claudia Lauren Mihocic, Paige Zois, Taneesha Sinead Pascoe Baker, Nia Constance Stamatopoulos, Georgia Olivia Beaumont, Hana Ann Lowry, Alana Jancevski, Emma Jessica Ilijoski.