Aust companies get shot at overseas deals

Australian companies will soon be able to compete for $1.7 trillion worth of government contracts in 47 countries.

Companies will be able to bid for $1.7 trillion in overseas government contracts after Australia joined a global trade agreement.

Australia has joined the World Trade Organisation's Agreement on Government Procurement, which gives local companies access to government contracts in 47 countries, after three years of negotiations.

"This creates significant opportunities for our high value, highly skilled services industries to secure more contracts that support more Australian jobs," Trade Minister Simon Birmingham said on Thursday.