Singapore, Australia ink landmark deal to deepen economic, defense ties

It will also promote innovation, facilitate tourism.

Singapore and Australia have inked a landmark agreement to deepen their ties in a number of areas, including economic integration, defence cooperation, innovation and entrepreneurship, and people-to-people ties, the Ministry of Foreign Affairs (MFA) said in a release.

A key aspect of the agreement is the third review of the Singapore-Australia Free Trade Agreement (SAFTA). Under the updated SAFTA, both countries will adopt a package of measures to increase trade and investment flows. It will reinforce Singapore’s position as a trading and investment partner for Australia and nhance Singapore’s position as a hub for Australian businesses and service providers to access expanding opportunities in Asia.

The deal will also promote innovation and entrepreneurship. It will bring together national research and scientific bodies, in particular the National Research Foundation, the Agency for Science, Technology and Research (A*STAR) and Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO), and support their collaboration through matching funding provided by both countries. About S$50 million in funding will be provided over five years.

The deal will also expand Singapore’s long-standing defence cooperation with Australia. Both countries have agreed to a signature joint bilateral military exercise, and jointly develop more military training areas and facilities in Australia. This will provide Singapore with greater access to military training areas in Australia over a period of 25 years.

"The CSP will draw our two countries closer, economically, politically and at the people-to-people level. Our economies will become more integrated and intertwined. Defence cooperation will be stepped up. The Singapore Armed Forces will be able to do more military training in Australia," Prime Minister Lee Hsien Loong said,

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia