Asunción, Agencia IP.- In a significant move to attract investments, the Minister of Industry and Commerce, Javier Giménez, engaged in a high-level meeting with Senior Minister and Coordinating Minister for National Security, Member of Parliament for Pasir Ris-PG, Teo Chee Hean, and Arun Vignesh from the National Climate Change Secretariat of Singapore. This meeting, a […]
Asunción, Agencia IP.- In a significant move to attract investments, the Minister of Industry and Commerce, Javier Giménez, engaged in a high-level meeting with Senior Minister and Coordinating Minister for National Security, Member of Parliament for Pasir Ris-PG, Teo Chee Hean, and Arun Vignesh from the National Climate Change Secretariat of Singapore. This meeting, a key part of his Asian tour, was aimed at fostering the crucial cooperation in carbon credits between Paraguay and Singapore.
Both authorities discussed the implementation agreement between Paraguay and Singapore on cooperation in carbon credits, whose negotiations were substantially concluded at COP-28 in Dubai last year, following a meeting with the President of the Republic, Santiago Peña, in coordination with the Ministry of Foreign Affairs and the Ministry of Environment and Sustainable Development (MADES).
This document is expected to be signed in the coming days. This agreement will allow the bilateral transfer of carbon credits, which is aligned with the Paris Agreement.
The agreement, a pioneering step for both Paraguay and Singapore, establishes a collaborative work program to operationalize the implementation agreement. This program includes the exchange of information and best practices, identification of potential projects, and mutual efforts to develop cooperation capacities as stipulated in the document. It marks the first of its kind for Paraguay and the first for Singapore, underscoring the innovative approach of both nations in the realm of carbon credits.
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