Minister for Defence Materiel Jason Clare today kicked off in the next stage of industry consultation on the Australia-United States Defence Trade Cooperation Treaty.
The second round of consultation is being done through the Joint Defence and Industry Advisory Panel – which includes experts from major Australian Defence companies and small-to-medium businesses and is chaired by Mr Ken Peacock AM.
The Australia-United States Defence Trade Cooperation Treaty was signed in Sydney
The US Congress passed implementing legislation on 28 September 2010, and the Treaty was ratified by the US Senate on 29 September 2010.
Legislation is required to be passed in Australia
Once implemented, it will create a framework for trade between Australia and the US
The first round of consultation occurred in December 2010, and included meetings with industry in eight capital cities and regional centres.
This is the second round. The Panel will advise Government on the impact of the Treaty on Australian companies, and provide a forum for input by industry experts to the development of the regulations necessary to implement the Treaty.
In the next few months, an exposure draft of the Defence Trade Controls Bill will be released for broader consultation with defence industry and academia. Following this, legislation will be introduced into Parliament later this year.
Mr Clare said the Trade Cooperation Treaty could provide enormous opportunity for Australian industry.
“It has the potential to reduce delays caused by export control regulations, improve delivery times, improve sustainment and give Australian companies better access to US contracts,” Mr Clare said.