Government officials have a load of work ahead of them to update the Australia-Singapore Comprehensive Strategic Partnership (CSP) within the next year.
Anthony Albanese met Singapore prime minister Lee Hsien Loong for the 9th Australia-Singapore annual leaders meeting on the sidelines of the ASEAN-Australia Special Summit on Tuesday.
At a joint press conference in Melbourne, the leaders of Australia and Singapore announced they had set their officials the task of updating the CSP to 2035. The current agreement will have been in operation for 10 years by 2025.
“With the 10th anniversary of our comprehensive strategic partnership on the horizon, today we build on an impressive track record and shared endeavour across trade, investment and supply chains, defence and security, education and the arts, science and innovation, the digital economy, and, of course, the landmark green economy agreement that we have reached,” Albanese said.
Public servants are now expected to finalise a workplace for the next iteration of the CSP that the leaders of Australia and Singapore will review at the upcoming 2025 annual leaders meeting in Singapore.
The leaders noted that Australia and Singapore faced many similar emerging challenges and opportunities, and explained a revised CSP would reflect more “ambitious, future-oriented and pathfinding”.
“We share a vision for an open, stable and prosperous region, and this meeting has solidified a relationship that is unique in its depth and breadth, and a relationship that we are now turning to the future,” Albanese said.
Lee observed that the Australia-Singapore CSP had made “good progress” to date, completing completed than 110 initiatives across the six pillars of cooperation.
In particular, he highlighted the building of a zero or near zero greenhouse gas emission fuel supply chain both nations had established in the shipping routes between Singapore and Australia.
“We are updating the CSP with fresh and ground-breaking areas of cooperation, for example on the digital and green economies,” Lee said.
“We are happy that the Singapore-Australia Green Economy Agreement signed only 18 months ago, has made significant progress. “
The first recipients of the Go Green co-innovation program (GGCIP) were also announced to support the ‘green transition’ of both nations with cutting-edge fuels and technologies.
Because Australia and Singapore were “natural partners with complementary economies and compatible worldviews and strategic perspectives on the region” the Singapore leader said there was more both nations could do together.
“Prime minister [Albanese’ and I therefore agreed that we should identify new strategic and forward-looking areas of cooperation for the next edition of the CSP. For example, renewable energy, supply chain resilience, artificial intelligence and air connectivity. Areas which will fit in well with Singapore’s and Australia’s priorities,” Lee said.
The Australian PM further noted new cross-border electricity trade principles had been agreed to, which he hoped would eventually mean renewable energy trade between Australia and Singapore and more opportunities for investors and workers.
He also shared news of pleasing progress on the development of a MOU for a new green and digital shipping corridor between the two nations, which should be established by next year.
“This agreement will help smooth the way to decarbonise our port and shipping industries and to bring their operations into the digital age. Australia and Singapore achieve more when we work together,” Albanese said.
During the meeting, Albanese and Lee also agreed on the importance of working closely with partners in Southeast Asia to ensure the region remained stable, peaceful and prosperous.
“Resilient supply chains were also high on our agenda today. Australia is proud to be a trusted and reliable supply chain partner to Singapore, especially for energy and food.
“Prime minister Lee and I are pleased with the ongoing progress under our bilateral food pact that we announced in 2022,” Albanese said.
“Also on our agenda was the importance of a strong multilateral trade system. Together with Japan, Singapore and Australia are proud to lead efforts among WTO members to agree new trade rules for e-commerce.
“We’re also working closely to promote greater investment and trade liberalisation through the WTO, APEC, IPEF and the G20.”
Lee, aged 71, has announced he would step down as leader of Singapore’s People’s Action Party (PAP) as early as November 2024. He will be succeeded by deputy prime minister Lawrence Wong ahead of Singapore’s 2024 elections.
Albanese thanked Lee for his two decades of service as prime minister and a friendship that endured beyond both men’s respective time in public life.
“For the past 20 years, Australia and others in our region have benefited from prime minister Lee’s acute understanding of our strategic circumstances, his willingness to share his insights and perspectives, and his commitment to building a region that is open and stable,” the PM said.
“He is an extraordinary leader for our region, and I wish him very well for his future.”
READ MORE:
ASEAN maritime interests at heart of regional peace and prosperity mission, Wong says
Any feedback or news tips? Here’s where to contact the relevant team.