The Australian Government has made up a new strategy for the development of the country's military-industrial complex in order to sharply increase the volume of arms exports. This was announced by Prime Minister Malcolm Turnbull, noting that in ten years, Australia will have to be among the world’s top 10 arms exporters.

The central element of the new strategy is the establishment of a special export fund totaling $3.8 billion (about $ 3 billion at the current rate) with the funds to be used for concessional lending to companies planning to increase arms transfers to other countries, TASS reported.

Australia is currently on the 20th spot in the list of the largest arms suppliers abroad. In recent years, the volume of its annual export varies from $ 1.5 billion to $ 2.5 billion.

According to the head of government, taking into account the parameters of Australia’s defense budget, they should be much higher on the list. In a conversation with reporters, the head of government also added that their goal is to enter the top ten.