On 29 September (US time), a resolution ratifying the Australia-US Treaty was passed by the US Senate.
This follows the passage of the Treaty’s implementing legislation through the US Senate on 27 September and the US House of Representatives on 28 September.
The Treaty is a significant step forward for practical defence and trade cooperation between Australia and the US.
Defence minister Stephen Smith said the Treaty created a framework for two-way trade between Australia and the US in both classified and unclassified-but-controlled defence articles without the need for export licences.
The Treaty is expected to offer reduced delivery times for new defence projects and improve business opportunities for Australian companies to participate in US contracts.
Under the Treaty, an Approved Community of government facilities and private companies will be established in both countries, within which trade in defence articles can be undertaken without the administrative delays caused by US and Australian export control regulations.
It is anticipated that allowing Australian firms to develop closer links with the US defence sector will open up important export opportunities.
The government will now take all necessary steps to complete Australia’s domestic ratification requirements, including introducing implementing legislation into Parliament and consulting the defence industry on implementation.