none

AUSTRALIA AIMS TO BECOME 'MAJOR ARMS EXPORTER'

29-01-2018
by 
in 

Following on from Christopher Pyne's 2017 comments on Australia's big future in arms exports, the Turnbull government has revealed plans for a AU$3.8 billion fund that will offer loans to local arms manufacturers. 

The government is optimistic that this push towards increased activity in the arms manufacturing sector will create "tens of thousands" of jobs over the lifetime of the program, which is called the Defence Export Facility.

"We sell a veritable welter of [defence] products, but we haven't really taken it to the next level, which is to seriously compete in the world for a part of what is a $1.5 trillion part of the world economy," said Pyne.

He emphasised that Australia would focus on growing sales to its biggest markets including the United States, Britain, Canada and New Zealand, which already import Australian-made equipment including the Bushmaster armoured vehicle and the Nulka missile decoy.

The Prime Minister Malcolm Turnbull said the government aimed for Australia to become one of the world's top 10 exporters of weapons within a decade.

Australia currently is ranked 20th in arms exports with a 0.3 percent share of the global market, with defence exports worth about $2 billion a year.

"Given the size of our defence budget, we should be a lot higher up the scale," Turnbull said.

"The goal is to get into the top 10. That is the ambition," the prime minister continued. 

The government's push on arms sales will also see a special exports division created within the Department of Defence. 

 The Labor opposition suggested it would back the government's plan. 

"I'm very supportive of any proposal that creates jobs, that's the starting point" senior Labor MP Anthony Albanese told ABC Radio. 

He said defence industry was "important" but accused the Turnbull Government for neglecting other kinds of advanced manufacturing in the automotive and renewable energy industries. 

Related news & editorials

  1. 22.05.2018
    22.05.2018
    by      In
    The Sixth Wave Alliance (SWA) is a new initiative formed to develop a national robotics R&D strategy and create the critical mass required to address large-scale Australian and international challenges using robotics technologies.
    With worldwide spending on robotics expected to reach US$188... Read More
  2. 21.05.2018
    21.05.2018
    by      In
    Queensland engineering firm Fibercon is claiming a milestone in recycling, having reused more than 50 tonnes of plastic waste.
    The plastic has been used in the company’s Emesh product, which replaces steel mesh in reinforced concrete. The technology was codeveloped with researchers from Queensland’... Read More
  3. 18.05.2018
    18.05.2018
    by      In
    The latest edition of the Methods technology and solutions e-zine from Mouser Electronics focuses on digital twinning, the latest concept for design and maintenance in Industry 4.0.
    Starting with a forward from digital twinning expert Dr Michael Grieves, Executive Director of the US Center for... Read More
  4. 17.05.2018
    17.05.2018
    by      In
    The Federal Government has released an expanded overview of its 12-year national research infrastructure investment plan, marking the “next step of the innovation and science agenda”.
    The plan, prepared jointly by Education and Industry departments, will “provide Australian researchers with access... Read More