Australia and Singapore have signed a new Protocol on Economic Resilience and Essential Supplies under the Singapore-Australia Free Trade Agreement (SAFTA), strengthening cooperation on energy security, critical supply chains and trade. Singapore is Australia’s largest fuel supplier, providing 55% of its petrol, 15% of its diesel and 23% of its aviation fuel. With Australia importing around 90% of its fuel requirements, the new agreement is intended to strengthen both countries’ economic resilience. The protocol also establishes the Australia-Singapore Economic Resilience Dialogue, creating a formal mechanism for the two countries to coordinate on supply chain resilience and other shared economic challenges. “The Protocol builds on the success of our free trade agreement and reinforces both countries’ support for open, free and fair trade.”