'Maximising Australia's AUKUS Opportunity' underscores growth opportunity for AmCham members

28 November 2022

 AUSTRALIA – A landmark report released today by PwC Australia in conjunction with the American Chamber of Commerce in Australia (AmCham) and the Australian British Chamber of Commerce (ABCC) outlines how AUKUS presents a once-in-a-generation opportunity to transform Australia's sovereign defence capabilities and deliver economic benefits across the country.

 ‘Maximising Australia’s AUKUS Opportunity’ outlines a range of measures for discussion in order to maximise the benefits of AUKUS, including the potential for a new AUKUS visa, a tripartite AUKUS office as well as a suite of other measures.

The report focuses on key points for discussion to maximise Australia’s security and economic benefits including:

• how the changing balance of risk is reflected in the culture across defence;
• the Government’s role in protecting or creating domestic manufacturing capabilities - specifically the need for a re-evaluation of the Australian Industry Capability Program to reflect Australia’s comparative advantages and the increasing fragility of global supply chains;
• the role of national workforce planning to meet demand for skills - that is, planning at an enterprise level to ensure defence stakeholders (e.g. Navy, Defence Industry and APS) are not competing for resources in a way which undermines the Defence system;
• the introduction of an ‘AUKUS visa’ that facilitates the movement of UK and US citizens to Australia as well as an accelerated process where individuals who have been vetted in the UK and US could be considered for Australian defence industry clearance, regardless of Australian citizenship;
• the establishment of an ‘AUKUS Office’: a tripartite agency to move Australia, UK and US entities away from individualised, complex and relatively costly bilateral export authorisations towards a framework driven environment; and,
• the efficiency of current procurement processes.

The report was compiled through a research and consultation with stakeholders across defence, industry and research institutions.

AmCham CEO April Palmerlee said, “We believe the economic opportunity associated with AUKUS is considerable.  With the Indo-Pacific region now accounting for a full third of global economic output, this report highlights the opportunity for Australian organisations to respond with agility to the dynamic geopolitical environment and find ways to increase market share while at the same time improving national security.”

For more information or interview requests, please contact Lisa Tanger at AmCham at (02) 8031 9000.

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