Australia, Singapore sign ‘green economy’ pact According to Reuters

By Lewis Jackson

SYDNEY (Reuters) – Australia and Singapore on Tuesday agreed on a “green economy” deal to boost cooperation on investment, finance and climate technology.

Singapore Prime Minister Lee Hsien Loong told a news conference in Canberra that the deal would begin with initiatives such as developing a list of environmental goods and services that can be given preferential trade treatment.

“It will support our countries’ transition to net zero emissions as well as create jobs and growth opportunities in green sectors, promote the development and commercialization of green sectors,” said Mr. Lee. green technology”.

Australian Prime Minister Anthony Albanese cited the A$30 billion Sun Cable project ($18.8 billion), which aims to export solar power from Northern Australia to Singapore via Indonesia, as an example of what the deal is. favorable direction.

“A project like Sun Cable that has the potential to export clean energy to Singapore is mutually beneficial,” said Albanese.

Lee, asked about US export controls targeting China’s semiconductor industry, said at a press conference that the matter was “very serious” and raised concerns about an economic slowdown. economic.

“We worry that valid national security considerations could have greater consequences and could lead to less economic cooperation, less interdependence, less trust, and less trust,” he said. could end up being a less stable world.”

The leaders also discussed a major cybersecurity breach at Optus, an Australian telecommunications company owned by Singtel listed in Singapore. Lee said Singapore’s cybersecurity agencies have reached out to their Australian counterparts and offered assistance.

Mr. Lee also said the Singapore military was ready to assist in disaster relief in flooded southeastern Australia.

(1 dollar = 1.5929 Australian dollars)