Pacific, Canberra is set to spend nearly $5 billion on a series of cutting-edge medium and long-range missiles from the US.

Australia will buy US missiles at a cost of A$7 billion ($4.7 billion) to boost its long-range strike capabilities, with Defence Industry Minister Pat Conroy warning of “the greatest arms race” in the region since 1945.

Australia announced on Tuesday a $4.7-billion deal to arm its navy with cutting-edge United States medium- and long-range missiles at a time of rapidly escalating military tensions in the Asia-Pacific.

SYDNEY - Australia announced on Oct 22 a (S$6.13 billion) deal to arm its navy with cutting-edge US medium and long-range missiles at a time of rapidly escalating mili

Australia will pay $7 billion to the US government for hundreds of long-range missiles in a deal approved by Congress that reflects the biggest arms race in the Pacif

Australia will spend $7bn over the decade to revolutionise its air and missile defence systems under a new agreement with the United States aimed at countering China’s recent investments in anti-ship ballistic missile technologies while strengthening deterrence in the Indo-Pacific.