Australia, S'pore sign deal

Australia, S'pore sign deal

SINGAPORE (DPA): Singapore and Australia have signed a wide- ranging deal on information technology valued at between S$40 and $50 million (US$24 30 million), Singapore television reports said on Monday.

The agreement, signed by visiting Deputy Prime Minister Tim Fischer and his Singapore counterpart Lee Hsien Loong, includes initiatives to speed up commercial and industry exchanges, encourage trade and investment and coordinate electronic commerce.

The signing of the agreement marked the start of two days of inter-governmental talks in Singapore, with the aim to strengthen bilateral ties between the two countries amidst continuing uncertainties in the region.

The second meeting of the Singapore-Australia Joint Ministerial Committee (SAJMC) in the tropical city-state had to deal with a wide range of bilateral and regional subjects, Singapore's Foreign Minister Shanmugam Jayakumar stressed in his opening speech.

One of the top issues will be the developments in Indonesia and East Timor. Australia's Foreign Minister Alexander Downer is due to give a keynote speech at the Institute for Defense and Strategic Studies (IDSS) in Singapore on Tuesday.