SINGAPORE - A green economy cooperation framework being developed by Singapore and Britain will aim to tackle the global challenge of climate change, Minister in-charge of Trade Relations S. Iswaran said on Wednesday (July 6).
The framework will seek to reduce the carbon footprint of both countries, while leveraging growth and investment to create jobs and opportunities for people.
Mr Iswaran, who is also Minister for Transport, posted on Facebook that he met Secretary of State for Business, Energy and Industrial Strategy Kwasi Kwarteng in London to review the progress of the framework, which is expected to be developed by this year.
Mr Iswaran also met International Trade Secretary Anne-Marie Trevelyan and discussed plans to work towards crafting an investment protection agreement between the two countries that will help to provide certainty and clarity for investors.
He said: "This is important given our large and growing bilateral relationship - Singapore is the UK's third-largest Asian investor, as well as third-largest investment destination in Asia."
Mr Iswaran was in Germany earlier, where he met Vice-Chancellor and Federal Minister for Economic Affairs and Climate Action Robert Habeck in Berlin.
Mr Iswaran shared in a LinkedIn post that a bilateral Economic Cooperation Framework with Germany is in the works.
The framework will deepen collaborations between both countries and help promote private sector-led tie-ups in advanced manufacturing, mobility and green technologies.
"It will also pave the way for cooperation in areas such as workplace training, business matching and networking," Mr Iswaran said, adding that the framework is expected to be finalised by year end.