Singapore, Australia upgrade strategic partnership to boost security, economic ties

“Many countries had imposed restrictions on exports, imports – and it was a very difficult time for both our countries. But because of the trust that we have between Australia and Singapore, we kept supply lines flowing between our two countries. We even had vaccine swaps to support one another,” he recounted.

This year marks the 10th anniversary of the CSP, which has “delivered real and tangible benefits for both countries”, Mr Wong added.

These included more than 110 initiatives, such as the world’s first Digital and Green Economy Agreements, and the CSP forged closer links between businesses, with more than 5,000 Australian companies now using Singapore as a launchpad to access opportunities in the region, he noted.

“We have a significant flow of two-way travel – with people studying, working and living in our respective countries. Many have formed close ties and lifelong friendships. These people-to-people ties form the foundation of our partnership,” Mr Wong said.

Acknowledging the 60-year relationship between both sides, Mr Wong noted that Australia was one of the very first countries to recognise Singapore’s independence and establish diplomatic ties with it. “We are grateful for your friendship and steadfast support over the decades.”

AN UPGRADED CSP

Singapore’s Ministry of Trade and Industry (MTI) said in a press release that under CSP 2.0, initiatives will be implemented across five pillars, notably peace and stability at home and in the region, economic connectivity, transitioning to net zero emissions to tackle global warming, forging new frontiers, and deepening friendships and capabilities between both sides.

Mr Wong said that the first CSP had seen a lot of progress and borne fruit over the last decade, so both sides are now building upon that foundation, with a “very ambitious agenda across so many different domains”.

“And the work has already started. The ministers have been meeting, the officials have been discussing. In fact, some of them shared with us that in fleshing out the agenda for CSP 2.0, it was a very natural and smooth conversation. And that shows, that speaks to the very clear and strong alignment in terms of the interest of the two countries,” he added.

Singapore and Australia share a robust and dynamic economic relationship, with bilateral trade between both sides reaching S$30.3 billion last year, making Australia one of Singapore’s top trading partners, MTI said.