SINGAPORE, Oct. 22 (CNA) -- Australia is in the "final stages" of talks with Singapore to set up a new travel arrangement between the countries which could be established "within the next week or so", Prime Minister Scott Morrison said on Friday (Oct 22) morning.

The talks are focused on allowing vaccinated students and business travellers to benefit from the arrangement first, before opening up to tourists, The Sydney Morning Herald reported.

The travel bubble will depend on the quarantine arrangements of each state, but New South Wales and Victoria have already ditched mandatory hotel quarantine for vaccinated international travellers from Nov 1, according to the report.

"The first step (is to) bring Australians home," Mr Morrison said at a press conference on Friday.

The country will then welcome those with student visas, business travellers, skilled migrants and international visitors, in that order, he said.

Mr Morrison added that Australia may welcome international visitors "before the end of the year" but that the country would not rush its reopening, saying that the aim was to "open safely so we can remain safely open".

Prime Minister Lee Hsien Loong said in a statement on Facebook after Mr Morrison's announcement that he was "delighted".

"Singapore and Australia have robust economic and investment links, and warm people-to-people ties.

"Look forward to resuming close connectivity between our countries, as we move towards an endemic COVID future," he said.

In March, Singapore confirmed it was in talks on a possible travel bubble with Australia.