Singapore, China sign MOUs to boost cooperation in areas such as green development, digital economy and maritime connectivity

Singapore, China sign MOUs to boost cooperation in areas such as green development, digital economy and maritime connectivity


MEMORANDA OF UNDERSTANDING SIGNED

On Saturday, both sides concluded new MOUs and also renewed existing ones.

Green development: An MOU on Enhancing Cooperation in Green Development was signed by Singapore’s Ministry of Trade and Industry (MTI) and China’s Ministry of Commerce.

It builds on an earlier one signed in June 2022, to promote policy sharing and business cooperation in areas like renewable energy, green building and green finance.

Both countries are set to deepen exchanges in green development, including in newer areas like carbon services and trading, carbon capture, utilisation and storage, low-carbon hydrogen, bioenergy and energy storage systems.

Digital economy: The two ministries also signed an MOU on Enhancing Cooperation in the Digital Economy.

It builds upon an earlier version, which sought to strengthen bilateral cooperation and exchanges in the sector by exploring joint opportunities for growth, and has seen good progress since.



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