Sydney, October 18 (BNA) Australia and Singapore have agreed on a “green economy” agreement to enhance cooperation in climate investment, finance and technology.
Singapore Prime Minister Lee Hsien Loong said at a press conference in Canberra that the agreement would begin with initiatives such as establishing a list of environmental goods and services that could receive preferential trade treatment, Reuters reported.
“It will support our countries’ transition to net-zero emissions as well as create jobs and growth opportunities in green sectors and promote the development and commercialization of green technologies,” Li said.
Australian Prime Minister Anthony Albanese cited the A$30 billion ($18.8 billion) Sun Cable project, which aims to export solar power from northern Australia to Singapore via Indonesia, as an example of what the agreement aims to achieve.
“A project like Sun Cable that has the potential to export clean energy to Singapore is the ultimate win,” Albanese said.
SM