Business News Releases

Exporting to support ADF capability

THE Parliament’s Joint Standing Committee of Foreign Affairs, Defence and Trade today tabled the report for its inquiry into Government support for Australian defence industry exports.

The committee has recommended the Department of Defence recognise that elements of industry are essential to Australian Defence Force (ADF) capability and take steps to identify them, and establish long-term partnerships with industry to sustain them.

Chair of the Defence Sub-Committee, Senator David Fawcett (SA), said, “The recent First Principles Review of Defence has confirmed the Committee’s view that elements of industry essential to the ADF should be recognised as a Fundamental Input to Capability (FIC).  Defence therefore has an interest, indeed an obligation to find appropriate ways to work with industry to ensure that these capabilities can be developed and sustained. Defence exports are just one additional way that the industrial base linked to the ADF’s key capabilities can be sustained.”

The committee recommends specific areas where Defence will need to revise its approach to procurement to allow for long-term partnerships with industry, to drive innovation and maintain Australia’s sovereign capability.

Defence will need to find a new approach to identifying and managing risk to encourage the development of indigenous Intellectual Property (IP).  They need to adapt their policies to recognise that for complex capabilities that are FIC, value for money is more likely to be found through ongoing partnerships with industry, rather than through open competition. “In the past, there has been a sizeable gap between statements of policy and the experience of the defence industry. This must now change,” Senator Fawcett said.

This report’s recommendations aim to make FIC areas of industry more sustainable and more innovative. This innovation will be the basis of increased exports and more clearly define those areas where it is demonstrably in the national interest for the taxpayer to be funding support for defence exports. 

Other recommendations in the report include that the Department of Defence:

• revise the role of defence attachés;
• enhance the role for the Australian Military Sales Office;
• task ADF personnel to attend trade shows and events alongside industry;
• have active ministerial advocacy on behalf of the Australian defence industry; and
• improve processes within the Defence Export Control Office.

A copy of the report and information about the inquiry, including submissions, can be obtained from the committee’s website at www.aph.gov.au/jfadt.

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Telstra talks technology futures

THE impact of new technologies upon society and the economy will be investigated tonight when telecommunications giant Telstra appears before the Infrastructure, Transport and Cities Committee, as part of the ongoing inquiry into the role of smart ICT in the design and planning of infrastructure.

Telstra’s submission focuses on emerging technologies and their potential benefits, such as human interface technologies, immersive communications, the Internet of Things, and artificial intelligence and machine learning.

Telstra notes that one of the most significant opportunities for the application of smart ICT is road infrastructure. The telco says that if Australia continues to build and operate roads as it does today that it’s likely to need about two and a half times more road capacity in 2050 than it has today.

The application of emerging technology—especially autonomous vehicles—means that the road capacity requirement in 2050 could be roughly equivalent to the capacity existing today.

Committee Chair, John Alexander MP (Bennelong, NSW), said that new technology was presenting exciting opportunities to make urban centres more liveable and productive and regional areas better connected than ever before.

“By exploiting the full potential of new technologies, Australia will become a more efficient, productive, connected and liveable place. The opportunities to radically improve the efficiency of transport networks in particular are there to be taken. Governments and business must grasp these opportunities to keep the nation competitive in the global environment,” Mr Alexander said.

Hearing details

Date: Tuesday, 1 December 2015
Time: 5:30 pm–7:00 pm
Witness: Telstra (Submission 14)
Venue: Committee Room 2R1, Parliament House, Canberra

The public hearing will be webcast live at http://www.aph.gov.au/live

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National Capital Authority talks future plans for Canberra

THE REVIEW of the National Capital Plan, the Capital Metro light rail project and the future of Floriade are all matters which may be discussed tomorrow when the National Capital Authority (NCA) appears before the Joint Standing Committee on the National Capital and External Territories Committee.

The NCA manages the Commonwealth’s interest in the planning and development of Canberra by administering the National Capital Plan. The Committee holds biannual hearings with the NCA to enhance transparency and parliamentary accountability applying to the organisation.

Committee Chair, Mr Luke Simpkins MP, said the NCA has been undertaking the first comprehensive review of the National Capital Plan since the plan came into effect in the 1990s.

“We’re interested in discussing the findings of the review, proposed revisions for the Plan and the implications for Canberra more broadly,” Mr Simpkins said.

PUBLIC HEARING       

 Thursday 26 November 2015

Committee Room 1R2, Parliament House, Canberra

10:00 am         Chair’s opening statement

10:05 am         National Capital Authority

11:00 am         Close

All members of the public are welcome to observe proceedings.

The hearing will be webcast at www.aph.gov.au/live

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Public hearing into agricultural innovation

THE House of Representatives Agriculture and Industry Committee will conduct a public hearing tomorrow for the inquiry into agricultural innovation.

Appearing at this third hearing for the inquiry will be the CSIRO.

Committee Chair, Rowan Ramsey MP, said “Australia is privileged to have an innovative and enterprising agricultural community populated by farmers, research organisations like CSIRO, and a wealth of other passionate stakeholders. The Committee is keen to hear from CSIRO about the landscape for future agricultural innovation, and in particular to hear what government can to do help in overcoming barriers to technology adoption.”
 
The hearing will be held in Committee Room 1R1, Parliament House, Canberra:
 
Thursday, 26 November 2015
12.30 pm (approx.) CSIRO
1.30 pm close

The public hearing will be webcast live at: http://www.aph.gov.au/News_and_Events/Watch_Parliament

Further details about the inquiry, including submissions received and the terms of reference, can be obtained from the committee’s website at: www.aph.gov.au/agind.

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Export credit agency Efic to explain how it is backing Australian exporters to Middle Eastern markets

AUSTRALIA’s Export Finance and Insurance Corporation will discuss how it is helping Australian companies make inroads into Middle Eastern markets with federal parliament’s Joint Standing Committee on Foreign Affairs, Defence and Trade at a public hearing in Canberra tomorrow.

The Trade sub-committee’s inquiry into trade with the Middle East will hear from Efic managing director Andrew Hunter and other representatives about its greater focus on providing financial support to Australia’s small and medium enterprises (SMEs) to find new export opportunities in the Middle East North Africa region.

Efic is a government-backed export credit agency that provides finance and insurance support to assist Australian exporters. Efic operates on a commercial basis in partnership with banks to provide financial solutions for exporters with its loans, guarantees, bonds and other insurance products. It charges customers fees and premiums and earns interest on its loans and investments.

According to its 2014-15 Annual Report Efic provided 221 transactions to SMEs valued at $112 million, supporting 103 export contracts worth $575 million.

As an example of its support, a Western Australian-based geosciences company DownUnder GeoSolutions (DUG) won a contract in 2014 to install sophisticated computer hardware and DUG software into a fleet of seismic vessels in the United Arab Emirates. To assist DUG in expanding their overseas operations, Efic provided DUG’s bank with an export working capital guarantee worth more than $6 million for computer hardware and also an overseas direct investment guarantee to help it upgrade overseas offices and accelerate its growth strategy.

Public hearing

Date/Time                   Wednesday 25 November 2015, 11:05 am

Location                     Committee Room 1S3, Parliament House, Canberra

Organisation              Efic

Live audio broadcast will be available at www.aph.gov.au/live

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