Singapore, Cambodia eye stronger ties in renewable energy and carbon markets

They will also work on agri-trade cooperation.

Singapore and Cambodia will work on fuelling their ties in various sectors, including renewable energy and carbon credits.

During Singapore Prime Minister Lawrence Wong’s introductory visit to Cambodia, he discussed priority areas for collaboration with his counterpart Hun Manet.

When it comes to energy, Wong said in his speech that the two countries will work “together to build a greener and more interconnected ASEAN by deepening cooperation in renewable energy.”

He said the parties are working on the importation of low-carbon electricity from Cambodia, which will be one of the key building blocks for the ASEAN Power Grid.

Singapore and Cambodia are also working on a carbon market, including an Implementation Agreement on Carbon Credits.

“This will mobilise financing for clean-energy projects, uplift rural communities and improve livelihoods, while enabling both our countries to hit our net-zero goals,” Wong said.

The leaders also discussed deeper cooperation in agri-trade with Cambodia being a key agricultural exporter, and Singapore being a major importer.

“We are keen to diversify our sources of food imports. So closer collaboration in this area will be mutually beneficial for both our countries,” Wong said.