South Australia's reputation as the Defence State will be further reinforced when Treasurer and Defence Industries Minister, Stephen Mullighan, arrives in the UK tonight ahead of a series of high-level meetings.
The trip will further strengthen ties with UK defence partners in preparation for South Australia's role building SSN-AUKUS conventionally armed nuclear-powered submarines.
The Treasurer will also hold key talks in the treasury and finance sectors, including meetings with the Bank of England, UBS, Deutsche Bank and leading insurance provider, Swiss Re.
He'll also meet with Standard and Poor's (S&P) to reiterate South Australia's commitment to maintaining its AA+ credit rating and stable outlook.
The visit will kick off with a breakfast meeting with representatives from 15 South Australian and UK companies, including from the defence sector, presenting an opportunity to discuss further collaboration between Australia and the UK.
The Treasurer will also meet with the High Commissioner to the UK, The Hon Stephen Smith, to highlight South Australia's key priorities and identify other opportunities for the State's defence industry.
As Defence Industries Minister, Stephen Mullighan will tour BAE Systems' submarine manufacturing shipyard at Barrow-in-Furness, where the SSN-AUKUS submarines for the Royal Navy will be constructed.
He'll also visit other key players in the UK's nuclear-powered submarine industry, including Rolls Royce and Babcock, and will hold talks with world-leading missile systems company, MBDA, which produces air, sea and land missiles.
These meetings will be invaluable in better understanding the industry's requirements to ensure the State Government is supporting and maximising any potential benefits for South Australian defence companies to be part of the global supply chain.
As put by Stephen Mullighan
The relationship between South Australia and the UK is crucial to delivering on the AUKUS agreement, which will see SSN-AUKUS conventionally armed nuclear-powered submarines built at Osborne.
Strengthening ties with world-leading defence companies abroad, will provide pathways for South Australian defence companies to contribute to the supply chain.
Defence projects such as AUKUS and the Hunter-Class Frigates will create a generation of work for South Australians and inject tens of billions of dollars into SA's economy, while creating thousands of highly paid jobs for our future workforce.
