BAE Systems chief executive Glynn Phillips said the agreements are part of the company's plans to further its work in Indigenous engagement.

"The theme for National Reconciliation Week 2017 is 'Let’s take the next steps'," Mr Phillips said.

"We’re doing just that by building on the Reconciliation Action Plan our company put in place last year."

"This Strategic Relationship Agreement with the IDC further opens our door to Indigenous suppliers and provides genuine opportunities to become part of our national supply chain. As a defence industry leader, we need to lead the way in engaging with Indigenous suppliers and helping to achieve meaningful and sustainable outcomes with Aboriginal and Torres Strait Islander communities."

The agreement between BAE Systems and the IDC commits both organisations to collaborate on a shared intention of achieving the sustainable inclusion of Indigenous-owned businesses as meaningful participants in BAE Systems’ supply chain.

Chief executive of the IDC Adam Goodes welcomed the partnership with BAE Systems, a partnership he hopes will see more opportunities for Indigenous businesses.

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"IDC and BAE Systems will work together to flush out more opportunities for Indigenous businesses, to help build capabilities and showcase the ability of the Indigenous business sector," Mr Goodes said.

"We look forward to supporting BAE Systems directly and indirectly in future Defence infrastructure projects."

DCA’s Diversity and Inclusion Oration will be an annual event designed to focus attention on the benefits of diversity and inclusion for business.

"We are partnering with Diversity Council Australia on the inaugural Oration to lead a conversation on Aboriginal and Torres Strait Islander perspectives at work and explore how Australian business and industry can improve what we are doing and strive towards best practice in diversity and inclusion," added Mr Phillips.

These partnerships follow the Company’s 2016 Reconciliation Action Plan (RAP) which details BAE Systems commitment and aspirations for an enterprise-wide approach for building capability through procurement; engaging our people and communities; and employment and development of Aboriginal and Torres Strait Islander peoples.

At the end of last year, the company had achieved two-thirds of its RAP commitments and currently has standing contracts with five Indigenous suppliers, [spending contracts] with numerous other suppliers, and a targeted procurement plan that is being developed in conjunction with IDC.