Former Minister for Trade
Australian Commonwealth Coat of Arms

Media Release

27 July, 2009

Agreement To Boost Clean Energy Ties With Singapore

A new agreement between the peak clean energy industry bodies in Australia and Singapore will enhance commercial ties between the two countries.

Australia's Clean Energy Council (CEC) and the Sustainable Energy Association of Singapore (SEAS) signed a Memorandum of Understanding (MoU) in Singapore today. This is the first international agreement signed by Australia's CEC.

Minister for Trade Simon Crean said the cooperation agreement would boost trade and investment links in the clean energy sector between Australia and Singapore.

"I congratulate both the CEC and SEAS as they seek to bring our clean energy industries closer together.

"This agreement sets the framework for collaboration in education, networking and information exchange in sustainable and renewable energy, and energy efficiency issues.

"It will facilitate cooperation in areas such as accreditation, information sharing and two-way business missions in relation to sustainable and renewable energy," Mr Crean said.

The development of the MoU was facilitated by Austrade which introduced CEC to its Singaporean counterpart.

Mr Crean said the Australian clean energy sector is well positioned to take advantage of the opportunities emerging around the world as nations look at new ways of addressing the challenge of climate change.

"Australia's competitive advantages lie in an abundance of natural renewable energy, a strong tradition of research and development, highly developed services sectors such as financial services, engineering, project management and construction - all of which lay the foundation for investment in renewable energy and energy efficiency measures.

"As part of the Budget this year, the Australian Government committed to providing $14.9 million over three years to attract productive investment into Australia's clean energy sector and assist Australian clean energy companies to access international markets through exports and investment," Mr Crean said.

The minister said the cooperation agreement was the first step to linking CEC with similar associations across South East Asia.

This cooperation would be further enhanced by the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), coming into force on 1 January 2010, which would introduce further liberalisation for goods and services exports to ASEAN.

"The prospects are strong for clean energy related export and investment from Australia into ASEAN, and for Singapore to become a key source of investment into Australia.

"The rapidly growing ASEAN economies offer near-term opportunities in renewable energy and environmental remediation, and long-term prospects in carbon reduction programs around the region," Mr Crean said.

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