A new agreement has been signed between South Australia and the United Kingdom this month, unlocking billions of dollars in economic activity.
The three-year memorandum of understanding was signed during a recent visit from UK Foreign Secretary Liz Truss. It is set to deepen the state’s relationship with the UK in the defence, cyber and space industries, whilst also making it easier for local businesses to break into the UK market and help implement the AUKUS agreement.
The deal was struck following a visit to the state-of-the-art Osborne Naval Shipyard – set to be home to the construction of Australia’s first fleet of nuclear-powered submarines – and Lot Fourteen.
This is the first ever state level agreement between the UK and Australia.