Singapore, Australia expand cooperation under CSP 2.0

The partnership outlines a ten-year framework across five key pillars.

Singapore’s Prime Minister Lawrence Wong and Australia’s Prime Minister Anthony Albanese announced the upgrade of the Singapore-Australia Comprehensive Strategic Partnership (CSP 2.0) at the 10th Singapore-Australia Annual Leaders’ Meeting in Canberra.

CSP 2.0 outlines a ten-year framework to enhance bilateral cooperation across five key pillars: contributing to peace and stability, connecting the two economies, transitioning to net zero, forging new frontiers, and deepening friendships and capabilities.

According to Singapore’s Minister for Manpower and Minister-in-charge of Energy and Science & Technology, Tan See Leng, the partnership strengthens collaboration in economic and supply chain resilience, energy transition, and trade and investment facilitation.

In 2024, bilateral trade between the two countries reached $30.3b. Meanwhile, Singapore is the sixth largest foreign investor in Australia, with investments spanning sectors like real estate, infrastructure, and energy.

“These initiatives reflect our shared commitment to addressing global challenges and seizing opportunities for sustainable growth,” Tan added.