You’ve probably heard of the LNP’s recent movement in the defence industry.
The Turnbull government wants to increase defence industry exports by $1 billion.
The move will push Australia into the top 10 weapons exporters within the decade.
The government sees a vast potential in the Australian defence industry, as they are investing billions over the next decade.
Trade and Tourism Minister, Steven Ciobo hopes that the impact of their investments will result in an increase in jobs and economic growth in Australia.
Any prospect of future economic and employment growth is always a good thing for this growing country.
The defence industry in particular, will show steady growth through this major investment decision.
The Australian manufacturing sector has always been a fairly average area, suffering under the pressure of high energy and labour costs.
So the turnaround could prove to be a little risky.
According to the government, the defence industry has huge potential, and being a multi-billion dollar industry that may be the case.
Minister Pyne states:
‘Defence representatives attached to Australia’s regional diplomatic missions play a key role in supporting export outcomes for Australian defence industry.’
Australia already expanded its network with India and Singapore in January in order to talk up the nation’s overall capability.
But is Australia trying to capitalise from a potentially large-scale war? One which is about to take place?
With so much tension from North Korea and Russia, war could very well be around the corner. Either way, tensions ensure the demand for military equipment and weapons will be high.
Instead of suffering from the fallout of these tensions, or even from the ugly potential of a major war, Australia could trade with their major allies.
That appears to be the government’s main intention as they plan to grow Australia’s global presence in the defence industry.
By Nathan Frank