09/07/2017 8:07 AM AEST | Updated 10/07/2017 6:33 AM AEST

Turnbull Praises 'Ambitious, Historic' Submarine Deal In Talks With French President

The PM says the two nations have a "tight bond".

Pascal Rossignol / Reuters
Emmanuel Macron and Malcolm Turnbull in Paris talks.

Prime Minister Malcolm Turnbull says a military submarine deal struck with a French company is the biggest and boldest defence project in Australia's history.

In Paris for talks with recently elected French President Emmanuel Macron, Turnbull described the multi-billion dollar deal as a great and historic moment for both nations.

"One hundred years on from those shared sacrifices, from that alliance, from that courage, from that dedication, from those days when men from Australia came to the other end of the world to fight for freedom, there we are, their grandchildren, their great grandchildren, are working together to secure our freedom, not just for today but for many, many years to come," he is quoted by the ABC as saying.

Turnbull went on to describe the project as "the largest and most ambitious military project in Australia's history".

"So it is a very tight bond and it is recognised that the future of the submarine project, the project office of which I will open tomorrow," he added, according to Sky News.

In December, Australia and France inked the $50 billion submarine agreement which will see French contractor Naval Group build a new fleet of diesel-electric subs for Australia's military.

Turnbull is in France for the whirlwind visit after jetting out of the G20 summit in Germany on Macron's presidential plane.

While together, the two leaders also reportedly talked trade, terror, climate change and the nations' shared military history.

Correction: A previous headline on this story referred to Macron as France's Prime Minister. He is, in fact, its President.