Singapore and Australia launch Singapore-Australia Comprehensive Strategic Partnership (2.0) upgrade

29 October 2025

On 8 October 2025, the Ministry of Trade and Industry (“MTI”) announced the upgrade of the Singapore-Australia Comprehensive Strategic Partnership (“CSP 2.0”) at the 10th Singapore-Australia Annual Leaders’ Meeting (“ALM”).

The CSP 2.0 aims to prepare both countries’ economies and societies for challenges and opportunities now and in the future, and extends cooperation between the two countries further to engage effectively with regional partners. Measures include strengthened initiatives to be implemented over the next 10 years across five pillars: (i) Contributing to peace and stability, at home and in the region; (ii) Connecting economies; (iii) Transitioning to net-zero; (iv) Forging new frontiers; and (v) Deepening friendships and capabilities.

Under the CSP 2.0, MTI and Enterprise Singapore (“EnterpriseSG”) announced the following initiatives that took place during the 10th ALM.

Pillar 2: Connecting our economies

  • Memorandum of understanding (“MOU”) on Economic Resilience signed: MTI and the Australia Department of Foreign Affairs and Trade signed an MOU on Economic Resilience. The MOU seeks to expand collaboration to strengthen economic resilience, including in essential supplies. Both countries will work towards negotiating an arrangement on trade in essential supplies by end-2026 and explore options for a legally binding commitment in future. Through this arrangement, both countries hope to strengthen the supply chain resilience of essential supplies and explore greater collaboration to diversify supply chains. Australia and Singapore will also establish the Australia-Singapore Economic Resilience Dialogue at the senior officials’ level.
  • MOUs between EnterpriseSG and New South Wales and Victoria signed: EnterpriseSG and the states of New South Wales and Victoria signed MOUs to jointly facilitate business engagements, provide innovation ecosystem access, and enable knowledge sharing to drive commercial partnerships and investment opportunities in sectors of mutual interest for enterprises from Singapore and the respective states.
    • EnterpriseSG signed an MOU on Green Economy and Innovation Collaboration with the State of New South Wales. The MOU focuses on green energy innovation, sustainable urban development, FinTech, medtech, cleantech, transport and mobility technology, and sustainability innovations.
    • EnterpriseSG signed an MOU on New Energy and Biomedical Collaboration with the State of Victoria. This MOU’s “New Energy” focus includes areas such as offshore wind, energy storage, renewable hydrogen, bio energy, sustainable aviation fuel, and zero emission transport, while its “Biomedical” focus includes precision medicine, medtech, biotech, and digital health.

Pillar 3: Transitioning to net-zero

  • Cross-Border Electricity Trade (“CBET”) Framework between Australia and Singapore signed: Australia and Singapore signed the Cross-Border Electricity Trade (“CBET”) Framework, building on the “Ten Principles to Guide the Development of CBET” announced at the 9th ALM. It is a joint effort to support the development of the regional architecture for CBET, which is a vital pathway for the region’s decarbonisation while enhancing energy security and meeting rising energy demand. The framework is intended as a point of reference for CBET-related norms and best practices, providing clarity and predictability for governments, businesses, investors, and other actors participating in CBET in the region. As South-east Asia makes progress towards realising an integrated ASEAN Power Grid, the opportunities for CBET will increase further.

Reference materials

The following materials are available on the MTI website www.mti.gov.sg: