Singapore, Malaysia Ink Agreements to Deepen Green Economic Cooperation

Singapore and Malaysia have agreed to strengthen bilateral cooperation and jointly exploit opportunities in the green economy, Malaysia’s New Straits Times reports.

The memorandum of cooperation (MoC) was signed between Singapore’s Ministry of Trade and Industry and Malaysia’s Ministry of International Trade and Industry and was witnessed by Singapore Prime Minister Lee Hsien Loong and Malaysian Prime Minister Anwar Ibrahim

As Malaysia’s first green economy agreement signed with any country, the partnership is expected to strengthen collaboration to decarbonise both countries’ industries and help businesses and workers seize opportunities in the green economy.

Under the MoC the two neighbours agreed to deepen cooperation in areas such as the setting of standards and the deployment of charging points for electric vehicles, and jointly exploring projects in low-carbon solutions, in particular hydrogen and carbon capture, utilisation and storage.

The Southeast Asian nations also agreed to exchange information on carbon markets, study collaboration between their companies in carbon credits projects, and look at developing new and renewable energy-related technology standards to support domestic and regional decarbonisation.

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