World News

Australia to become major defence exporter under $3.8b Turnbull plan

Australia to become major defence exporter under $3.8b Turnbull plan

"We do not see Russian Federation or China as posing a military threat to Australia", Bishop told Sky News television commenting on the new US National Defense Strategy unveiled by Pentagon Chief James Mattis recently, according to which Russian Federation and China are undermining the existing world order threatening the United States.

The US is by far the biggest defence exporter, accounting for nearly a third of world sales, with Russian Federation just behind.

A $3.8bn Defence Export Facility will assist companies wanting to find overseas markets as the Coalition establishes its new Defence Export Office.

Defence Minister Marise Payne, over the weekend, said Australia shared similar concerns. Australia is the 20th largest defense exporter with most of its exports including the Bushmaster armored vehicle and the Nulka missile decoy sold to the United States, Britain, Canada and New Zealand. That way sensitive technologies will be protected, while exports will support Australia's key global allies.

More news: Fitness tracker data 'reveal locations of military bases and personnel'

But it also says there could be opportunities in the Indo-Pacific Region, the Middle East and Europe.

Prime Minister Malcolm Turnbull will unveil in Sydney today a defence exports strategy to open up new markets and build a globally competitive defence industry.

Exports will be carefully managed to make sure the ADF's capability is not compromised.

The strategy is created to complement the government's promise to invest a record $200 billion in ADF capability over the next decade.


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