CANBERRA, Australia — Australia’s government announced a strategy Monday to create high-tech jobs and become one of the top 10 defense-industry-exporting countries within a decade through arms sales to liked-minded nations while also keeping those weapons from rogue regimes.
Australia will create a 3.8 billion Australian dollar ($3.1 billion) fund to lend to exporters that banks are reluctant to finance, a central defense export office and expand the roles of defense attaches in Australian embassies around the world.
Prime Minister Malcom Turnbull said that with AU$200 billion budgeted to increase Australian defense capabilities in the next decade, Australia should rank higher than 20th among arms-exporting countries. The planned Australian military build-up was the largest in its peace-time history, he said.
Australia will create a 3.8 billion Australian dollar ($3.1 billion) fund to lend to exporters that banks are reluctant to finance, a central defense export office and expand the roles of defense attaches in Australian embassies around the world.
Prime Minister Malcom Turnbull said that with AU$200 billion budgeted to increase Australian defense capabilities in the next decade, Australia should rank higher than 20th among arms-exporting countries. The planned Australian military build-up was the largest in its peace-time history, he said.