Singapore and Thailand sign carbon credit collaboration deals

The MoU outlines plans to deepen trade and investment collaboration.

Singapore and Thailand have signed two key agreements aimed at strengthening bilateral cooperation in climate action and business investment.

The first is an Implementation Agreement on Carbon Credits Collaboration, the first such agreement Singapore has signed with an ASEAN country.

It was signed by Singapore’s Minister for Manpower and Minister-in-charge of Energy, Dr Tan See Leng, and Thailand’s Minister of Natural Resources and Environment, Mr Chalermchai Sri-on. The agreement marks a step forward in regional efforts to operationalise carbon market mechanisms.

The second is a Memorandum of Understanding (MoU) between the Singapore Business Federation (SBF) and the Thailand Board of Investment (BOI), signed by BOI Secretary General Mr Narit Therdsteerasukdi and SBF CEO Mr Kok Ping Soon.

The MoU outlines plans to deepen trade and investment collaboration through joint initiatives, information exchange, and support for enterprise activities in sectors such as biotechnology, electronics, food processing, and tourism.

Both agreements were signed during the 9th Singapore Regional Business Forum (SRBF), held in Bangkok for the first time, in conjunction with the 60th anniversary of Singapore–Thailand diplomatic relations.

In addition to plenary sessions, the Forum featured breakout discussions on green finance, regional digital trade, and business solutions.

An Overseas Marketplace Workshop was also held, providing 17 Singapore companies with the opportunity to explore market opportunities in Thailand.