The MOU will facilitate co-operation between the defence industries of Australia and Switzerland, while recognising the fundamental importance of a sovereign defence industry to develop and maintain capability.
Minister Pyne said, "The MOU will allow us to identify opportunities for collaboration, support defence equipment transfers and sharing of information."
The MOU serves as a central element of Australia and Switzerland’s defence materiel and industry relationship and would deliver long-term tangible benefits to both countries’ defence capabilities.
"The joint declaration reflects the mutual commitment of Australia and Switzerland to deepen our friendship as well as our dedication to increased bilateral defence materiel and industry cooperation to the benefit of both countries," Minister Pyne explained.
Australia and Switzerland enjoy an increasingly dynamic relationship based on shared political and economic interests, which are supported by regular high-level dialogue.
A key element of contemporary ties is Switzerland’s significant investment in Australia, which will be enhanced by the signing of the MoU between the two nations.
"Australia and Switzerland already share a long and productive history, and I look forward to strengthening our relationship in relation to defence materiel co-operation, sustainment and capability development," Minister Pyne said.