Singapore, Australia discuss Green Economy Agreement

Illustrative image (Photo: Straitimes)

Singapore (VNA) -  Leaders of Singapore and Australia have met to discuss a new Green Economy Agreement (GEA) that aims to facilitate green growth through practical measures.

According to a joint statement issued on October 11, Singaporean Minister of Industry and Trade Gan Kim Yong met Australian Minister for Trade, Tourism and Investment Dan Tehan to discuss the deal.

Under the agreement, both countries hope to facilitate trade and investment by easing the regulatory burden on businesses. They also aim to remove non-tariff barriers to trade in environmental goods and services, and accelerate the uptake of low emissions green technology.

Both countries said this "world-first agreement" will deepen their bilateral partnership through strengthened economic and environmental relations.

The broader goal is for this agreement to serve as a pathfinder that contributes to multilateral and regional policy development by "establishing policies, standards and initiatives that will not only create good jobs in green growth sectors, but also strengthen environmental governance and global capacity to address environmental issues", they added./.