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Australia’s new Defence Export Strategy released

The Commonwealth Government today released its Defence Export Strategy, which outlines its plan for a new Australian defence export system. The Strategy includes several new initiatives and investments:

  • A new Australian Defence Export Office, which is intended to work hand-in-hand with Austrade and the Centre for Defence Industry Capability to coordinate whole-of-government effort, and provide 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 export efforts are coordinated.
  • A $3.8 billion Defence Export Facility administered by Efic, Australia’s export credit agency to help Australian companies get the finance they need to underpin the sales of their equipment overseas when there is a market gap for defence finance.
  • $20 million per year to implement the Defence Export Strategy and support defence industry exports.

What does this mean for Victorian SMEs?

The Victorian Government’s 2016 Defence Technologies Sector Strategy noted that the global defence market will expand over the coming years, particularly in Asia, and that Victoria needs to be at the forefront of this growth to create jobs. The strategy also states that our traditional markets in the United States and Europe will continue to represent the majority of the global defence market.

The Defence Technologies Sector Strategy outlines a number of initiatives and financial support to industry to enable it to become export-ready and compete for global supply chain opportunities. Initiatives and support which Victoria already has in place include:

  • a Victorian Defence Industry Advocate
  • a defence representative in Europe (to complement the existing United States representative)
  • the capability-building Victorian Defence Industry Supply Chain Program.
  • A global network of 21 Victorian Government Trade and Investment offices (including in Singapore, Tokyo, Seoul, London and Washington D.C.) which will be able to take advantage of opportunities that may arise from this strategy.

The Victorian Government will continue to work with its defence industry on pursuing relevant export opportunities as they arise.

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