During the 9th Annual Leaders' Meeting in Melbourne on 5 March 2024, the Prime Ministers of Singapore and Australia signed a Memorandum of Understanding (MoU), which formally establishes the Singapore-Australia Green and Digital Shipping Corridor (GDSC).

The MoU, inked by Chee Hong Tat, Singapore’s minister for transport and second minister for finance, and the Hon Catherine King MP, Australian minister for infrastructure, transport, regional development, and local government, is designed to accelerate marine decarbonisation and digital transformation.

The two nations commended the joint development of a set of principles intended to govern cross-border electricity trade within the region.

Moreover, the Prime Ministers welcomed the finalization of a Collaborative Instrument aimed at enhancing existing cooperation between border agencies to address cross-border criminal activities.

The MoU will additionally explore methods to streamline digital information exchange, aiming to enhance the efficiency of port clearance, port calls, and vessel movements between Singapore and Australia. This collaborative effort involves the Singapore Maritime and Port Authority (MPA), Australian federal, state, and territorial administrations, and industry participants.

According to a statement, the Prime Ministers expressed satisfaction with the strengthening of bilateral collaboration, particularly in pioneering areas such as digital and green economies. They acknowledged the significant strides made in implementing the Singapore-Australia Green Economy Agreement (SAGEA) since its ratification in October 2022.

Notably, they highlighted the recent announcement of the inaugural recipients of the US$13 million (A$20 million) Go-Green Co-Innovation Programme grant, aimed at supporting collaborative endeavours between Singaporean and Australian enterprises in developing innovative products and services within green sectors.

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