OCBC and Australian High Commission sign 5-year pact to boost SEA–Australia trade

It aims to more than double flows by 2030.

OCBC Bank and the Australian High Commission Singapore have signed a five-year strategic framework to expand trade and investment flows between Southeast Asia and Australia, targeting a more than double increase by 2030.

The agreement supports Australia’s Invested: Australia’s Southeast Asia Economic Strategy to 2040, which aims to deepen economic ties with a region projected to become the world’s fourth-largest economy by 2040.

Since the strategy launched in 2023, two-way trade between Australia and Southeast Asia rose by $2.94b (AUD3.2b) to a record $180.13b (AUD195.7b), whilst Australian investment in the region increased by $1.84b (AUD2b) to $97.46b (AUD105.9b).

The partnership will focus on energy transition, infrastructure, resources, green transport, fintech, and digital innovation.

It brings together Australian agencies including the Department of Foreign Affairs and Trade, Export Finance Australia, and the Australian Trade and Investment Commission with OCBC’s financing and regional network.

The goal is to connect Australian firms with Southeast Asian partners, support investor matching, and improve market readiness through knowledge-sharing programs.

OCBC, the first Singapore bank to enter Australia in 1986, marks 40 years in the country. Its Sydney branch loan book has grown at about 13% CAGR over the past five years (as of Q1 2026), driven by real estate, energy, utilities, and infrastructure financing.

OCBC has also supported Lendlease on financing related to its property projects, including Lendlease Global Commercial REIT’s acquisition of Paya Lebar Quarter Mall in Singapore, as well as developments such as One Circular Quay in Sydney and Tun Razak Exchange in Kuala Lumpur.

It also led financing in 2025 for Australia’s national carrier Qantas’ fleet renewal programme.

“This strategic collaboration aims to create a powerful platform for Australian companies and investors to expand into Southeast Asia, where there are growing opportunities for energy transition, infrastructure development and green transportation,” said Elaine Lam, head of global corporate banking at OCBC.

“Singapore and Australia share a strong and trusted partnership and this collaboration with OCBC is a great example of how we can work together to unlock new opportunities for business, investment and innovation,” added Emily Follett, acting Australian High Commissioner to Singapore.