 The UK and Australia have signed a new SpaceBridge partnership to increase knowledge exchange and investment across the two countries' space sectors. The world's first SpaceBridge will unlock improved access to trade, investments and academic research opportunities. This agreement will further develop the long-standing relationship between the two countries which dates back to the 1970s when the Prospero satellite built in Farnsboro, UK launched from Umera, South Australia. The arrangement enhances operation between the UK Space Agency, UK Department for International Trade, Australian Trade and Investment Commission and the Australian Space Agency with UK Science Minister Amanda Soloway saying that the signing of today's SpaceBridge partnership, a world's first, with one of our closest international allies is another step forward in our ambition for the UK to become a globally competitive space power. The bond will allow our most innovative space businesses and universities to collaborate and share best practices more effectively than ever. I'm excited to see how this partnership will unlock new space jobs in both countries while driving forward new ideas that can enrich all of our lives. Space experts hit 5.5 billion pounds in 2017. It is this international demand for our space goods and services which is driving the development of the UK's vibrant and innovative space industry. Like the UK, Australia recognizes the enormous potential of space science and recognizes that closer partnership and alignment between our two sectors can boost progress and jobs in both countries. UK exports to Australia could grow by 900 million pounds as a result of a free trade agreement and the SpaceBridge program can play a critical role in space contribution to this growth and further strengthening the UK-Australian relationship. The UK boasts strong foreign direct investment levels into its space sector and the Australian space sector reports a strong appetite to expand operations into the UK. The announcement comes as the UK and Australia begin the fourth round of negotiations on the free trade agreement this week. We have already made good progress in several chapter areas including digital telecommunications, customs, rules of origin and procurement in previous rounds. Australia is influential in the Indo-Pacific and free trade agreement will help us pivot towards this dynamic area of the world. This will help diversify our trade, make our supply chains more resilient and make the UK less vulnerable to political and economic shocks like Brexit. This agreement has the potential to unleash innovation, promote knowledge exchange and build relationships that will help both countries maximize the vast economic and scientific potential that the space sector offers. It will help create better opportunities and greater security for people in both nations. The space sector is one of the fastest growing UK sectors and aims to create 30,000 new jobs by 2030. The Australian space sector is also growing with up to 20,000 new Australian jobs expected by 2030. The Space Bridge Framework Arrangement was signed on Tuesday 23 February 2021 at the British High Commissioner's Residence in Canberra, Australia and at Westminster in London, United Kingdom.