The document sets out a policy and strategy designed to make Australia one of the top ten global defence exporters within the next decade. According to the Australia government, a strong, exporting defence industry will provide greater certainty of investment, support high-end manufacturing jobs and support the capability of the Australian Defence Force.
The new strategy is intended to complement the government’s record $200 billion AUD ($162 billion USD) investment in the Australian Defence Force.
The Defence Export Strategy includes several new initiatives and investments. For example, a new Australian Defence Export Office, which will work with The Australian Trade and Investment Commission (Austrade) and the Centre for Defence Industry Capability to coordinate efforts and provide a focal point for defence exports.
In addition, the Defence Export Strategy will see the creation of a new Australian Defence Export Advocate to provide high-level advocacy for defence exports and work across industry and government, as well as a $3.8 billion AUD Defence Export Facility administered by Efic, Australia’s export credit agency.
The new facility will help Australian companies get the finance they need to underpin the sales of their equipment overseas. Its goal is to 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.
Finally, the Defence and Export Strategy will allocate $20 million AUD per year to implement the Defence Export Strategy and support defence industry exports, including $6.35 million AUD to develop and implement strategic multi-year export campaigns, an additional $3.2 million AUD to enhance and expand Australia’s 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.
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