Negotiations for the Singapore-Australia Free Trade Agreement (SAFTA) were launched on 15 November 2000 by the Prime Ministers of both sides at the fringe of the APEC Leaders' Summit. The Agreement was signed on 17 February 2003 and came into force on 28 July 2003.

SAFTA is a comprehensive agreement covering areas such as trade in goods, trade in services, investment, movement of business persons, government procurement and intellectual property rights among others.