New Zealand is weighing the purchase of advanced warships from Japan or the U.K. to modernize its aging fleet and bolster its defense capability.

The South Pacific nation, a member of the Five Eyes intelligence-sharing network alongside Australia, the U.S., the U.K. and Canada, is focused on Japanese Mogami-class or the U.K.¡¯s Type 31 frigates.

Discussions are underway with the Royal Australian Navy and the U.K.¡¯s Royal Navy about the frigate replacement and ongoing service arrangements, Defense Minister Chris Penk said Thursday in Wellington. New Zealand¡¯s two current frigates were commissioned in 1997 and 1999.

¡°As a remote island nation, maritime security underpins New Zealand¡¯s economic prosperity,¡± Penk said in a statement. ¡°Yet most ships in the current fleet are expected to reach the end of their design life by the mid-2030s, including the Anzac-class frigates. Without replacement, this would have a significant impact on New Zealand¡¯s ability to protect its maritime interests in the Pacific and beyond.¡±

The announcement comes as the government plans to lift defense spending to about 2% of gross domestic product from around 1%, citing rising geopolitical tensions. These include incidents such as Chinese warships conducting live-fire drills in the Tasman Sea last year.

Last month, Australia completed a multibillion-dollar contract for the first three of 11 Mogami-class frigates it has agreed to buy. The other eight are meant to be built in Australia, although the details are yet to be announced.