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Singapore, Indonesia work on carbon credits, cross-border trade

The two countries will collaborate on carbon credits under a memorandum of understanding (MOU) signed on July 6 at the annual Singapore – Indonesia Leaders’ Retreat held in Jakarta, where Singaporean Prime Minister Lawrence Wong met Indonesian President Prabowo Subianto.

Singapore (VNA) - Singapore and Indonesia have signed a new agreement on carbon credits, deepening cooperation on climate finance as both countries seek to advance their climate goals amid an increasingly uncertain global environment.

The two countries will collaborate on carbon credits under a memorandum of understanding (MOU) signed on July 6 at the annual Singapore – Indonesia Leaders’ Retreat held in Jakarta, where Singaporean Prime Minister Lawrence Wong met Indonesian President Prabowo Subianto.

Cooperation areas include identifying high-integrity carbon credit projects, sharing information and technical expertise on carbon markets, and working towards an implementation agreement under Article 6 of the Paris Agreement, the Singaporean Ministry of Trade and Industry said in a statement on the same day.

Under a business partnership between the Singapore Business Federation (SBF) and the Indonesian Chamber of Commerce and Industry, the SBF’s AI-powered Trade AI Advisor platform will be expanded to include Indonesia’s network of free trade agreements./.

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VNA
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