Disclosure: Lifestyle Wealth Partners Pty Ltd and its advisers are authorised representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306. General Advice Warning: Any information on this website is general advice and does not take into account any person's objectives, financial situation or needs. Please consider your own circumstances and consider whether the advice is right for you before making a decision. Always obtain a Product Disclosure Statement (If applicable) to understand the full implications and risks relating to the product and consider the Statement before making any decision about whether to acquire the financial product.
The defence minister says Australia, the United States and Britain must work together seamlessly on new technology and weapons to protect against aggression in the Pacific.
Richard Marles will talk about cutting red tape to efficiently share technology and information through the AUKUS pact between the three nations, in a keynote speech to the American Chamber of Commerce on Wednesday.
He says the defence force will need to prioritise innovation to fast-track new capabilities.
“Our partnership will guide the accelerated development of advanced defence capabilities,” he will tell the chamber at an event in Adelaide.
“If we are to develop these advanced capabilities, we need to adopt an innovation mindset, one where we are not afraid to fail fast, learn, and adapt.”
Australia is working with the US to streamline the process of military acquisitions, including technology, due to arms export embargoes imposed by Congress.
“What’s really clear is that if we are to realise the ambition of AUKUS, the transfer of technology and information between Australia and the US needs to be seamless,” Mr Marles will say.
“This is a big task, the barriers in both systems are vast and complex. There is no silver bullet.”
A key plank of the AUKUS agreement is a fleet of nuclear-powered submarines.
Dominic Giannini
(Australian Associated Press)