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The Australian Government has announced that domestic businesses should already be seeing the benefits of the export licence-free environment established with the United Kingdom and the United States in September last year.
In less than six months, the reforms have provided over 210 companies across Australia with access to the international defence markets, which has already facilitated over $25 million in licence-free exports to the UK and the US - according to the Federal Government.
Under the reforms, local businesses no longer need a licence to export most military and dual-use goods, technologies and services to the UK and the US.
“It is terrific to see so many Australian defence companies already benefitting from these landmark reforms, both in terms of the lower costs to doing business and the unprecedented access they now have to markets in the United Kingdom and United States,” according to Deputy Prime Minister Richard Marles.
“These reforms are revolutionising our ability to trade and collaborate with our AUKUS partners and underscore the importance of our partnership with the United States and the United Kingdom under AUKUS.
“This is another practical example of how the Albanese Government is working for Australians, supporting Australian businesses and innovation.”
The early progress demonstrates the significant benefits these reforms offer local businesses as well as the unprecedented trade, innovation and collaboration opportunities with our AUKUS partners - according to government.
The trilateral licence-free environment established under the Federal Government will continue to fast-track the delivery of high-end capabilities to the Australian Defence Force and support unprecedented levels of advanced scientific, technological and industrial cooperation with our AUKUS partners.
To implement the reforms, the Federal Government committed $28 million in the 2024‑25 Budget, including to support industry engagement.
“The Australian Government is delivering on our commitment to streamline Defence trade and fast track the delivery of high-end capabilities to the Australian Defence Force,” according to Minister for Defence Industry and Capability Delivery, Pat Conroy.
“Defence continues to work closely with industry, higher education and research sector partners to ensure the effective and efficient implementation of these significant reforms.”
