‘Vitally important’ that Singapore, Australia coordinate response to global fuel crisis: PM Albanese #CNA

He highlighted Singapore as Australia’s largest two-way trade partner in Southeast Asia and a close strategic and economic partner, adding that both countries also rely on each other for energy — with Singapore supplying around 25 per cent of Australia’s refined fuel, and Australia providing about 32 per cent of Singapore’s liquefied natural gas (LNG).

Both countries are also working towards a legally binding protocol on economic resilience and essential supplies under their free trade agreement, amid global disruptions caused by the Middle East conflict.

Prime Minister Albanese described the cooperation as a “win-win”, stressing the importance of working together as partners and neighbours to tackle the global crisis.

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