Mr Johnson and Australian Prime Minister Scott Morrison were expected to formally seal the deal in a video conference call on Wednesday. The move signifies yet another post-Brexit deal between the two nations. IT also sends another message to French President Emmanuel Macron, indicating the AUKUS deal was not a one-off demonstration of the bi-lateral power.
Both countries will work closely together on security in the Indo-Pacific region in response to growing concern about China’s expansionist ambitions.
Britain will invest £25million for regional projects in the Indo-Pacific to counter security threats at sea, in the air and in cyberspace.
The agreement follows the UK-Australia Free Trade Agreement signed by both leaders in December.
Mr Johnson said: “The UK and Australia are working together to enhance regional security in the Indo-Pacific, drive innovation in science and green technology and boost opportunities for our businesses and citizens.
“Our nations are forging a new partnership from a historic alliance, fit for the next century and grounded in our shared priorities on security, democracy and free and fair trade.”
The UK and Australia are aiming to increase cooperation on science and technology through a new Science Partnership Series to help scientists from both countries collaborate.
British ministers are seeking to enhance the UK-Australia Space Bridge Agreement, sealed a year ago, with a new £1million commitment for Earth Observation in Agroclimate to help farmers deal with a changing climate.
Both governments will re-commit to delivering on the Glasgow Climate Pact and Paris Agreement to keep global warming below 1.5 degrees.
Mr Johnson is expected to welcome two major new investment projects being launched to coincide with the new pact.
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Australian financial technology firm PEXA is to expand into the UK while British energy company Octopus will develop a major greenfield renewable energy project down under.
Officials say the Desert Springs Octopus project could be worth £26billion over ten years and deliver wind, solar and hydrogen energy.
Mr Johnson and Mr Morrison were also expected to reaffirm their commitment to the AUKUS security partnership which also involves the US.
The project will provide the Royal Australian Navy with a conventional-armed nuclear-powered submarine capability.
Warships from all three countries are to take part in joint patrols and exercises in Indo-Pacific waters.
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Following the signing of the AUKUS deal, Mr Macron set about conveying the strongest of protests in the immediate aftermath.
This included a diplomatic spat with Australia which saw respective ambassadors recalled for consultation.
Such moves are rare in bilateral relations and signalled a low in Paris-Canberra ties.
Jean-Yves Le Drian, France’s foreign minister, labelled the deal a “stab in the back”.
Estimates placed the loss of the contract to the French at around £56bn, a bitter pill for the French.
In return, Mr Macron attempted to persuade EU partners to snub a £36bn trade deal with Australia.
This resulted in pushback from several EU nations that did not want to lose out over a dispute with no direct links to their own bi-lateral interests with Australia.
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However, Mr Macron stopped short of cutting diplomatic ties with the UK over the incident, instead, labelling Britain a “minor partner” in the deal.
With the global focus now shifting ever further east, the Indo-Pacific and South China Sea regions have become key areas of interest in the security paradigm.
With China applying pressure on Taiwan, as well as expanding its naval and land assets in the region, the AUKUS move is seen by many as a direct consequence of Chinese foreign policy.
Britain and allied forces have also used the ongoing uncertainty surrounding Russia and Ukraine to justify their ever-growing presence in the region.
The new deal will hence not only bring Australia and Britain closer in terms of security agreements but will see the two allies build stronger bonds in environmental and clean energy issues.
