Scott Morrison will spruik the “tremendous promise” of the digital economy during a visit to Singapore.

The prime minister is travelling to Singapore on Friday for an annual leaders’ meeting with Lee Hsien Loong.

The pair are due to discuss two-way trade and their joint push to update e-commerce rules at the World Trade Organisation.

Foreign Affairs Minister Marise Payne and Trade Minister Simon Birmingham will also be in tow.

The ministers are talking up the close defence and economic ties between Australia and Singapore.

“We see the world in similar terms and share common interests in regional peace, stability and economic prosperity, underpinned by a rules-based order in the region and globally,” they said in a statement.

Mr Lee recently argued the WTO was designed for an agricultural and manufacturing-based global economy, and its rules must keep pace with a shift towards services and digital and intellectual property.

Mr Morrison agrees on the need to update and strengthen the global trade rules, reaffirming this push in a London speech earlier this week.

While in Singapore, the prime minister will also talk up infrastructure, trade and the digital economy during a speech to the Australian Chamber of Commerce.

Mr Morrison says Australia and Singapore are both ambitious about integrating their economies.

“We’re at the forefront of supporting digital trade, and we’ve been working for the last six months on how we can help our businesses and consumers capitalise on the manifold opportunities in the digital economy,” he will say.

“We live in a region with tremendous promise – and Australia will be an integral part of it.”

Treasurer Josh Frydenberg travels to Japan on Friday for a meeting of G20 finance ministers and central bank governors.

Mr Frydenberg will then visit Germany, the United Kingdom and United States for bilateral talks and meets with significant investors with interests in Australia.