Prime Minister Anthony Albanese met today with Acting Prime Minister Lawrence Wong Shyun Tsai in Singapore for the 8th Australia-Singapore Annual Leaders’ Meeting.
Australia and Singapore are close friends and long-term strategic and economic partners, with an enduring relationship that has evolved to meet the shared opportunities and challenges facing our region.
Leaders discussed Australia and Singapore’s perspectives on the regional strategic outlook, the deep and abiding defence relationship, expanding trade and investment ties and growing cooperation on food and energy security.
Leaders also discussed the significant progress made under the landmark Green Economy Agreement, which is paving the way for Australia and Singapore to take ambitious climate action while seizing the economic opportunities of the net zero transition. Australia is committed to remaining a reliable energy supplier to Singapore during this transition.
Singapore is the gateway to Asia and has a unique ability to promote innovative and sustainable ways to trade. Leaders agreed to establish a green and digital shipping corridor by 2025. This will bring together ports, maritime and energy operators with regulators to develop low and zero-carbon supply chains, green port services and shipping operations, and accelerate the development and uptake of green marine fuel.
A new $20 million Go-Green Co-Innovation program will fund Australian and Singaporean small and medium businesses to develop innovative decarbonisation solutions. In addition, grants will be available to mobilise private capital to support climate action, the clean energy transition, and strengthen climate resilience in developing markets in Asia. The first grant round for this new program will open later this year.
The Prime Minister and Acting Prime Minister discussed work underway to finalise the Australia Singapore Food Pact as announced last year. This pact, which leaders agreed to finalise by next year’s Leaders Meeting, will support food security, increase bilateral trade and stimulate Singaporean investment into Australia by harmonising regulations, coordinating trade pathways and encouraging research and industry development. There is a strong future for Australian food exports to and through Singapore, and the Albanese Government is making sure Australian farmers and exporters are best placed to seize these opportunities.
While in Singapore, the Prime Minister will deliver the keynote address to the Shangri-La Dialogue, setting out Australia’s vision for the Indo-Pacific region. Convened by the International Institute for Strategic Studies, the Dialogue is the premier regional forum for senior government and thought leaders discuss regional security dynamics and challenges. The Prime Minister is honoured to have been invited to make the key-note address at this year’s Dialogue.
Quotes attributable to Prime Minister Anthony Albanese:
“Australia is proud to count Singapore as a close friend. This visit has been an opportunity to affirm our friendship, and map the next steps to implement our new Australia Singapore-Green Economy Agreement.
“We are ambitious for what we can achieve together on the path to net zero, pushing boundaries and setting new standards to drive green trade and investment.
“My visit to Singapore was an opportunity to look ahead with ambition for the next phase of this important relationship.
“Southeast Asia and ASEAN matters to Australia – that’s why I’m here this week. We are tied together by more than geography – we are linked by family, friends, business, education, tourism and a shared interest in the stability of the region into the future.
“I look forward to outlining Australia’s commitment to a better future for our region at the Shangri-La Dialogue this evening.”