This delegation is the first Australia Investment Mission as part of Australia’s Southeast Asia Economic Strategy to 2040. Image: The Conversation
The framework covers trade, supply chains, clean energy and tax and anti-corruption measures.
The Australian delegation led by MP Don Farrell, Australia’s Trade and Tourism Minister, attended the June 6 signing of three landmark Indo-Pacific Economic Framework (IPEF) agreements of the IPEF Fair Economy Agreement, the IPEF Overarching Agreement, and the IPEF Clean Economy Agreement- in addition to the previously signed IPEF Supply Chain Agreement – will help facilitate investment to strengthen economic ties and support the region’s transition to net-zero.
Over US$23 billion of sustainable infrastructure projects identified at Inaugural IPEF Clean Economy Investor Forum in Singapore – of about US$6 billion of investment-ready projects presented to investors and up to US$2 billion of new funding opportunities also pitched by climate technology companies
The IPEF’s members are Brunei, Fiji, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, South Korea, Thailand and Vietnam, comprising 40 per cent of global GDP, plus Australia and the US – and a potential consumer market that is 10 times larger than Australia by 2040.
At the inaugural IPEF Clean Economy Investor Forum, MP Farrell, addressed 300 of the region’s largest investors and entrepreneurs to make the case for increased two-way investment in the region to build new clean energy industries of the future – facilitate investment support for the region’s transition to net-zero.
Image PMO Gov SG: The IPEF’s members
The Hon Farrell launch the Singapore Deal Teams Hub which will work to identify a pipeline of investment ready projects for Australian investment in the region.
As a bloc, Southeast Asia is projected to become the world’s fourth-largest economy, with a potential consumer market that is 10 times larger than Australia by 2040.
Speech by Singapore Prime Minister and Minister for Finance Lawrence Wong at IPEF Clean Economy Investor Forum on 6 June 2024 : HERE+
Australia Government information on IPEF: HERE+
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Round One: Singapore-Australia Green Economy Agreement, GGCIP grant program of $20 million over several years for Australia and Singapore companies to increase trade and commerce in green sectors of :
Renewable and clean energy; sustainable agribusiness and food; built environment and infrastructure; waste management and circular economy; and environmental monitoring, analysis and assessment are among the green sectors of mutual interest supported under this program.
Round One Recipients:
Aviation SAF: Jet Zero Australia Pty Ltd, Singapore Apeiron Bioenergy Pte Ltd
Environmental monitoring analysis and assessment : Australia Givvable Pty Ltd and FootprintLab Pty Ltd; Singapore Stemly Pte Ltd and Hashstacs Pte Ltd
Energy reduction solution: Australia Roobuck Pty Ltd, Singapore Dong You Technology Pte Ltd
Sustainable agribusiness and food: Australia LLEAF Pty Ltd; Singapore Mapconn Pte Ltd
Round Two call for application likely to be announced in mid-2024. Contact: Register your interest in the program at ggcip@dfat.gov.au
Read full Go-Green Co-Innovation Program (GGCIP): HERE+
