S'pore, Australia sign 10-yr road map to take ties to next level

They will work more closely on trade, investment, financial markets, tourism, labour flow, defence and security

Lee U-Wen

Published Mon, Jun 29, 2015 · 09:50 PM

Singapore

SINGAPORE and Australia are rolling out the red carpet for businesses to invest in each other's economies more easily, thanks to a historic deal inked by their leaders on Monday.

Under the Comprehensive Strategic Partnership (CSP) signed by prime ministers Lee Hsien Loong and Tony Abbott at the Istana, there will be better access and integration of the two countries' financial and capital markets.

There are also plans to review the Singapore-Australia free trade agreement by July 2016 to make it more business-friendly, and to review Australia's Foreign Investment Review Board thresholds for Singaporean investors.

The flow of skilled labour and visitors will be increased, while…

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