The Turnbull Government is unlocking more jobs and investment in Australia’s defence sector, with the release of the new Defence Export Strategy. The landmark document sets out the policy and strategy to make Australia one of the top ten global defence exporters within the next decade.
It is an ambitious, positive plan to boost Australian industry, increase investment, and create more jobs for Australian businesses. A strong, exporting defence industry in Australia will provide greater certainty of investment, support high-end manufacturing jobs and support the capability of the Australian Defence Force.
It will complement the Turnbull Government’s record $200 billion investment in Australian Defence Force capability, and continue Australia’s record performance in job creation.
The Defence Export Strategy includes several new initiatives and investments, such as:
A new Australian Defence Export Office. The Office will work hand-in-hand with Austrade and the Centre for Defence Industry Capability to coordinate our whole-of-government efforts, providing a focal point for defence exports. A new Australian Defence Export Advocate to provide high-level advocacy for defence exports and work across industry and government to ensure our efforts are coordinated. A $3.8 billion Defence Export Facility administered by Efic, Australia’s export credit agency. This will help Australian companies get the finance they need to underpin the sales of their equipment overseas. It will provide confidence to Australian Defence industry to identify and pursue new export opportunities knowing Efic’s support is available when there is a market gap for defence finance.
$20 million per year to implement the Defence Export Strategy and support defence industry exports, including $6.35 million to develop and implement strategic multi-year export campaigns, an additional $3.2 million to enhance and expand the Global Supply Chain program, and an additional $4.1 million for grants to help build the capability of small and medium enterprises to compete internationally.
This strategy is about job creation. It will give Australian defence companies the support they need to grow, invest and deliver defence capability. It will make Australian defence exports among the best in the world.
Australia has so many defence industry success stories: Thales’ Bushmaster, Hawkei and sonars, Austal’s ships and engineering and CEA’s world-beating radar, amongst many others. This Strategy sets the conditions for even more success, and more defence industry jobs in the future.
The Defence Export Strategy can be downloaded at: www.defence.gov.au/exportstrategy