Business Envoy - Indigenous Innovation - December 2022

Spearheading trade and investment opportunities in a green economy

Australia and Singapore are set to seize new green trade and investment opportunities through a first of its kind Green Economy Agreement (GEA). Signed by Trade Ministers on 18 October 2022, the agreement has established platforms and cooperative arrangements to accelerate both countries’ transition to net zero emissions whilst driving green growth and job creation.

With an emphasis on practical and innovative ways of working together to tackle this transition, Singapore and Australia have launched 17 initial activities under the GEA. Among them are a grants program to incentivise and facilitate business collaboration in green sectors and work to promote and enable trade in 527 environmental goods and services, including by addressing non-tariff barriers. Other GEA initiatives include collaboration between CSIRO and its Singapore counterpart to help build industries in the circular economy, low emissions The Green Economy Agreement signals collective resolve to confront challenges as we transition our economies to net zero. It will support clean energy innovation, unlock business opportunities and create jobs, and help deliver our emission’s targets while positioning Australia as a renewable energy superpower.

technologies, alternative proteins, advanced manufacturing and future materials. Austrade and Enterprise Singapore are also helping to drive bilateral green economy cooperation by promoting and facilitating business engagement and investment in areas such as clean energy, agribusiness and infrastructure. An ecolabelling initiative conducted under the auspices of the GEA has facilitated an agreement between two members of the Global Ecolabelling Network, Good Environmental Choice Australia and the Singapore Environment Council. It is the first such agreement of its kind between countries and we hope that it will be a pathfinder for other countries, similarly to co-operate with one another to deal with the what is a global problem.

This partnership will provide mutual recognition for products and services and allow Australian companies to expand into the Singapore market. More information on the DFAT website and enquiries can be sent to

Alignment of sustainable finance policies to attract investment in Australian green and transition projects

Government and industry working together to build sustainable aviation and green shipping

Mr Lee Hsien Loong Prime Minister of Singapore

The Hon Anthony Albanese MP Prime Minister of Australia


business envoy

Department of Foreign Affairs and Trade

Made with FlippingBook - Online Brochure Maker