AUSTRALIA has taken one small step in its bid for a giant leap into the space sector.

The federal government released the charter for the newly-established Australian Space Agency on Monday, setting out the exact role of the agency in the government’s plan to transform the nation’s space economy into a $12 billion industry by 2030.

Industry, Science and Technology Minister Karen Andrews says the charter is a major step in the formation of the agency which was established after a $41 million commitment by the government in July.

Ms Andrews said the initial focus of the charter is establishing an independent, skills-based advisory board.

“We will be working towards establishing an advisory group which will work with the space agency to make sure Australia takes up its rightful place in the space sector,” Ms Andrews told reporters on the Gold Coast.