SYDNEY, Oct 18 (Reuters) – Australia and Singapore on Tuesday agreed on a “green economy” deal to boost cooperation on climate investment, finance and technology.
Singapore Premier Lee Hsien Loong said at a press conference in Canberra that the deal would start with initiatives such as developing a list of environmental goods and services that could receive preferential trade treatment.
“It will support our countries’ transition to net-zero emissions, as well as create jobs and growth opportunities in green sectors, and encourage the development and commercialization of green technologies,” Lee said.
Sign up now for FREE unlimited access to Reuters.com
Australian Prime Minister Anthony Albanese cited the A$30 billion (US$18.8 billion) Sun Cable project, which aims to export solar power from northern Australia to Singapore via Indonesia, as an example of what the deal aims to achieve .
“A project like Sun Cable that has the potential to export clean energy to Singapore is the ultimate win-win situation,” Albanese said.
Asked about US export controls for China’s semiconductor industry, Lee said at the press conference the issue is “very serious” and raised concerns about economic decoupling.
“We fear that legitimate national security concerns could trigger further ramifications, leading to less economic cooperation, less interdependence, less trust and possibly ultimately a less stable world,” he said.
Leaders also discussed a serious cybersecurity breach at Optus, an Australian telecom company owned by Singapore-listed Singtel (STEL.SI). Lee said Singapore’s cybersecurity authorities have contacted their Australian counterparts and offered support.
Lee also said Singapore’s military stands ready to help with disaster relief in flood-stricken south-east Australia.
($1 = 1.5929 Australian Dollars)
Sign up now for FREE unlimited access to Reuters.com
Reporting by Lewis Jackson; Edited by Robert Birsel
Our standards: The Thomson Reuters Trust Principles.
Comments are closed.