WA TO BENEFIT FROM NEW DEFENCE EXPORT STRATEGY

WA TO BENEFIT FROM NEW DEFENCE EXPORT STRATEGY

Federal Member for Hasluck, Ken Wyatt MP says companies in WA will benefit from new Australian Government initiatives included in the new Defence Export Strategy released on Monday 29 January 2018.

The Turnbull Government is unlocking a future of more jobs and investment in the defence sector with the release of Australia’s first 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.

The new Defence Export Strategy brings together all of the levers available to government and industry to provide end-to-end support for defence exports, from building readiness, to identifying export opportunities, and ultimately realising export outcomes.

“We want to do more to support Australian companies, including companies in WA, to access even more opportunities through the defence export market,” said Mr Wyatt.

This Strategy will complement the Turnbull Government’s record $200 billion investment in Australian Defence Force capability, and continue Australia’s record performance in job creation.

“This will provide our defence industry with greater certainty of future investment and support jobs for Australians for generations to come,” said Mr Wyatt.

The Defence Export Strategy includes several new initiatives and investments, including a new Australian Defence Export Office, a new Australian Defence Export Advocate, and 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. The Government has also committed $20 million per annum to implement Defence Export Strategy and support defence industry exports.

The Turnbull Government will ensure that maintaining the capability edge of the Australian Defence Force remains a key priority, with the protection of sensitive technologies essential. The Government will continue to ensure that defence exports do not prejudice Australia’s security, defence or international relations, and are consistent with our international obligations and commitments.

The Strategic Goal over the next decade is to achieve greater export success to build a stronger, more sustainable and more globally competitive Australian defence industry to support Australia’s defence capability needs.

The Defence Export Strategy can be viewed at: www.defence.gov.au/exportstrategy.