Singapore and Malaysia sign agreements to deepen cooperation in digital, green economy

Singapore and Malaysia have agreed to strengthen bilateral cooperation and jointly seize opportunities in the digital economy and green economy, and to work closely on data protection and cyber security.

Prime Minister Lee Hsien Loong and Malaysian Prime Minister Anwar Ibrahim witnessed the signing of three agreements covering these fields on Monday, during Datuk Seri Anwar’s first official visit to the Republic since he was sworn in as Malaysia’s 10th PM on Nov 24.

The deals followed a meeting between President Halimah Yacob and PM Anwar, where both leaders affirmed the warm and longstanding partnership between Singapore and Malaysia, said the Ministry of Foreign Affairs.

Two agreements were signed between the Ministry of Trade and Industry and Malaysia’s Ministry of International Trade and Industry to cooperate in the digital economy and the green economy.

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.

The agreements will see the two neighbours deepen cooperation in areas such as the setting of standards and the deployment of charging points for electric vehicles, and jointly explore projects in low-carbon solutions, in particular hydrogen and carbon capture, utilisation and storage. The two sides will also exchange information on carbon markets, explore 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.

The digital economy framework of cooperation will seek to enhance cooperation beyond what is spelt out in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership, two trade agreements that both Singapore and Malaysia are signatories to.

Source : For More Details

Leave a Reply

Your email address will not be published. Required fields are marked *