Prime Minister Anthony Albanese met with his Singaporean counterpart Lee Hsien Loong at Parliament House in Canberra, as part of the Australia-Singapore annual leaders' meeting.
In a joint press conference, Mr Lee described the US government's decision to impose restrictions on selling technology to China as potentially destabilising.
"We do worry that valid national security considerations may trigger off further consequences and may result in less economic cooperation, less interdependency, less trust and ultimately a less stable world," he said.
When asked about the Albanese government's China policies, Mr Lee said in response: "We never give ourselves report cards, much less our friends."
Mr Lee also refused to be drawn on Australia's position on China's bid to join a trans-Pacific free trade bloc, with Singapore supporting Beijing's membership application.
Australia is opposed to China's membership while it continues to use economic coercion.
Mr Albanese reaffirmed the need for cooperation with Beijing, while standing up for Australia's national interest.
"We need to make sure that we are more resilient (to supply chain shocks) - that doesn't mean an isolationist policy", he said.
The leaders announced the signing of the world's first "green economy" agreement, which was inked by Trade Minister Don Farrell and his Singaporean counterpart Gan Kim Yong.
Both prime ministers spoke about the deep trust the two nations shared and the reliability of the partnership.
Mr Albanese said Mr Lee offered his nation's defence force helicopters and personnel that were based in Australia to help with flood management.
"That's what friends do, they see a friend going through a difficult time and they ask, how can I help?" Mr Albanese said.
The leaders discussed their commitment to an open Indo-Pacific, and called for the release of Australian Professor Sean Turnell, who's been imprisoned by Myanmar's authorities.
Singapore is Australia's largest trading partner in southeast Asia, and the nation's fifth largest trading partner overall, with strong defence and education ties.
Also during the visit the two countries signed a new agreement between the Australian Nuclear Science and Technology Organisation, and the National University of Singapore.
The deal will allow Singapore's researchers to access facilities at the Australian Synchrotron in Melbourne, in a bid to encourage science collaboration between the two countries.
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