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SINGAPORE: Singapore and Australia are working towards a legally binding protocol on economic resilience and essential supplies under their free trade agreement, their leaders announced on Friday (Apr 10).<\/p>\n
Prime Minister Lawrence Wong and his Australian counterpart Anthony Albanese pledged to support the flow of essential goods, including petroleum oils and liquified natural gas (LNG), and to intensify cooperation to ensure the timely movement of supplies through enhanced coordination, efficient border and port processes, and early consultation.<\/p>\n
“We reaffirmed our commitment to working together, particularly during crises, to support a resilient, rules-based multilateral trading system that underpins stability during periods of global disruption,” they said in a joint statement.\u00a0<\/p>\n
A dialogue co-chaired by senior officials has been established to facilitate cooperation on economic resilience challenges and trade in essential supplies between the two countries.<\/p>\n
Ministers from both sides have also been tasked to convene the inaugural Energy Ministerial Dialogue.<\/p>\n
The two leaders called on other trading partners to join them in ensuring global energy supply chains are kept open.<\/p>\n<\/div>\n