Slightly over three months after Singapore and Australia concluded negotiations on a legally-binding protocol on economic resilience and essential supplies, the two countries announced on Monday (July 27) that they have signed the related agreement.
Dubbed the Protocol to the Singapore-Australia Free Trade Agreement on Economic Resilience and Essential Supplies, the agreement, inked at the 15th Singapore-Australia Joint Ministerial Committee meeting in Australia's Adelaide, is a follow-up to a joint statement between the two countries' prime ministers in April.
"The Protocol reflects both countries’ commitment to supply chain resilience and the priority that Singapore and Australia accord to each other with respect to trade in essential supplies," the Ministry of Trade and Industry (MTI) said in a statement on Monday after the signing.
The protocol was signed by Singapore's Minister for Trade and Industry (Energy and Industry) Dr Tan See Leng and Australia Minister for Trade and Tourism Don Farrell.
MTI added that the protocol will be incorporated into the Singapore-Australia Free Trade Agreement, and enter into force upon the completion of domestic procedures on both sides.
Speaking at a press conference after the signing, Dr Tan said the agreement reaffirms the shared commitment between Singapore and Australia to keep essential goods flowing during times of disruption, adding that the two countries will continue to work closely to strengthen the rules-based multilateral trading system.
"Now, at a time like this — heightened geopolitical uncertainty, increasing pressures on global supply chains — this signing of the Protocol reflects the deep reservoir of strategic trust between both our countries and our shared commitment to keeping trade open, reliable and resilient."
Under the agreement, Singapore and Australia commit to endeavour not to adopt or maintain export restrictions on agreed essential items, including petroleum oils such as diesel and liquefied natural gas.
There are also means for advance notification and consultation, as well as the review and withdrawal of measures.
Singapore generates about 95 per cent of its electricity using imported natural gas.
Australia, one of the world’s top LNG producers, accounts for one-third of Singapore’s supply.
Meanwhile, Australian government statistics for 2025 showed that Singapore is Australia’s largest supplier of refined petroleum products.
Last year, Australia was Singapore’s 12th largest trading partner, with total bilateral trade in goods amounting to S$30.3 billion.
In 2024, Singapore was Australia’s sixth largest trading partner and sixth largest source of foreign investment.
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