SINGAPORE, Aug. 15 (Xinhua) -- Singapore and Chile signed a Memorandum of Understanding (MOU) to collaborate on carbon markets and carbon pricing on Monday, according to Singapore's Ministry of Trade and Industry.

The MOU was signed by Beh Swan Gin, Permanent Secretary (Development) of Singapore's Ministry of Trade and Industry, and Alex Wetzig, Secretary General of Foreign Policy of Chile's Ministry of Foreign Affairs, during the latter's visit to Singapore.

Under the MOU, both countries will collaborate on carbon credits and related carbon market initiatives, including the identification of mutually beneficial projects and the exchange of best practices on carbon services and trading ecosystem development.

The two countries will also explore potential collaboration opportunities in carbon markets with third countries.

"Singapore and Chile share warm and longstanding bilateral ties, and are committed to working together to advance climate action and ambitions. We hope that through this agreement, both our countries will see an increase in climate investments, create jobs in the green economy, and enable technology collaboration," said Beh. Enditem

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