Australia and Singapore agreed on a “green economy” deal to boost cooperation on climate investment, financing and technology.
According to Singapore Prime Minister Lee Hsien Loong, the agreement would start with initiatives such as developing a list of environmental goods and services that could be given preferential trade treatment.
It will support the transition of our countries to net zero emissions as well as create jobs and growth opportunities in green sectors promote the development and commercialisation of green technologies
Minister Lee said.
In addition, Australian Prime Minister Anthony Albanese cited the A$30 billion ($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 agreement aims to achieve.
What is more, Minister Lee, when asked about U.S. export controls targeting the Chinese semiconductor industry, he said that the issue was “very serious” and raised concerns about economic decoupling.
We do worry that valid national security considerations may trigger off further consequences and may result in less economic cooperation, less interdependency, less trust and possibly ultimately a less stable world
