betty July 5, 2022

SINGAPORE – Singapore and Morocco have agreed to collaborate on carbon markets and work together to provide technical assistance to governments in Africa.

At the end of a three-day official visit to mark 25 years of bilateral diplomatic ties, Foreign Minister Vivian Balakrishnan said on Monday (July 4) that a memorandum of understanding, which was signed by himself and Moroccan Foreign Minister Nasser Bourita, sets the two countries to cooperate in achieving emission targets.

Under the agreement, Singapore and Morocco will work towards developing a legally binding framework that will allow carbon credits to be transferred between the two countries.

Carbon credits are tradeable permits that give their owner the right to emit a fixed amount of greenhouse gases.

When credits are transferred from one country to another, the changes in emissions volumes for each country are reflected in their greenhouse gas accounting.

The two countries are also working together to provide technical assistance for Africa. Dr Balakrishnan said that in October, Singapore and Morocco will jointly organise a pilot programme on leadership and governance for African countries, which will be held in Morocco for African countries.

On Monday, a letter of intent on cooperation in capacity building was signed by Moroccan Ambassador Director-General Mohamed Methqal and Singapore Ambassador to Morocco George Goh in Morocco’s capital Rabat.

The letter’s signing, said Dr Balakrishnan, signals hope that both countries have to conclude a memorandum of understanding on technical cooperation soon.

At a joint press conference with Minister Bourita on Monday,Dr Balakrishnan said he had presented Minister Bourita – a senior advisor to Moroccan King Mohammed VI – an invitation from President Halimah Yacob to the king to pay Singapore a state visit.

Although Morocco and Singapore are in different parts of the world, Dr Balakrishnan said they share in being gateways to respective areas of the world.

“This is a relationship which has in fact been founded on very good diplomatic ties, but I think the economic dimension of it is just waiting to take off, and to take off significantly,” he said.