Australian defence industry reaping the benefits of AUKUS trade reforms

Australian businesses are already seeing the benefits of the export licence-free environment the Albanese Government established with the United Kingdom (UK) and the United States (US) on 1 September 2024.

In less than six months, these generational reforms have provided over 210 companies across Australia with unprecedented access to the world’s largest defence markets and have already facilitated over $25 million in licence-free exports to the UK and the US.

Under these 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, unlocking billions of dollars of investment in Australia and cutting red tape for Australian industry and our AUKUS partners.

This 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.

The trilateral licence-free environment established under the Albanese 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 these reforms, the Albanese Government committed $28 million in the 2024‑25 Budget, including to support industry engagement.

Quotes attributable to Deputy Prime Minister, the Hon Richard Marles MP:

”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.

“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.”

Quotes attributable to Minister for Defence Industry and Capability Delivery, the Hon Pat Conroy:

“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.

“Defence continues to work closely with industry, higher education and research sector partners to ensure the effective and efficient implementation of these significant reforms.”