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Manila Bulletin devider Philippines devider National devider Singapore seeks energy collaboration with Philippines

Singapore seeks energy collaboration with Philippines

Published Apr 17, 2024 10:46 am

Singapore has expressed interest in collaborating with the Philippines on energy as Foreign Minister Vivian Balakrishan believed that the Philippines has great potential in achieving net carbon zero.

Balakrishnan said Singapore and the Philippines “can work together on the framework for trading of carbon credits,” which he said would open up new areas of growth and opportunities for the latter’s economy.

That would also expand Singaporean businesses’ access to available carbon credits that will be generated.

He made the pronouncement Tuesday following his bilateral talk with Department of Foreign Affairs (DFA) Secretary Enrique Manalo in Manila.

A regional level energy collaboration was also discussed, Balakrishnan said.

He said there is a potential for the Philippines to tie up with Indonesia and Malaysia in making an energy network together, like what Laos, Thailand, Malaysia and Singapore did in their power integration project.

“And if you put these two networks together, you in fact, get the beginning of a very significant ASEAN power,” he said.

“We look forward to working closely with the Philippines to make the ASEAN reality. Singapore and the Philippines will also work closely together in other emerging areas of energy, which we discussed,” he added.

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Vivian Balakrishnan Enrique Manalo
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