Australia will face trans-Tasman rivals New Zealand in the final of the Men's ICC T20 World Cup after beating Pakistan by five wickets in a thrilling semi-final in Dubai on Thursday.

Australia captain Aaron Finch won the toss and elected to bowl as Pakistan's opener Mohammad Rizwan smashed 67 and Fakhar Zaman hit an unbeaten 55 as Pakistan posted 176-4.

After falling to 2-1 with Aaron Finch out for a first-ball duck, Australia recovered with David Warner posting 49 from 30 balls.

Spinner Shadab Khan took 4/26, including Warner's dismissal, to turn the tide in Pakistan's favour.

However, Matthew Wade, who scored 41 from 17 deliveries, and Marcus Stoinis, who scored 40 from 31 deliveries, then stepped in and pushed Australia over the line with one over to spare.

Australia will now have a chance to improve on their runners-up finish in 2010 and win their maiden T20 World Cup title.

(With input from agencies)