The ASEAN energy ministers endorsed several key outcomes at the 36th ASEAN Ministers on Energy Meeting (AMEM) on Monday, targeting at enhancing energy connectivity and resilience, and innovation for Southeast Asia.
According to a press release from Singapore's Ministry of Trade and Industry, these outcomes include a Memorandum of Understanding (MOU) on Energy Cooperation between ASEAN and the International Renewable Energy Agency (IRENA) with an Action Plan that outlines key areas of collaboration.
The MOU signing ceremony is scheduled on Tuesday morning as a Singapore International Energy Week event. The document is a sign for ASEAN and key international organizations to strengthen energy cooperation.
Other outcomes are the Capacity Building Roadmap on Energy Investment and Financing, which is a part of ASEAN's efforts to enhance regional capabilities to attract investments in energy and develop sustainable financing models; a set of key recommendations for the development of Green Building Codes for ASEAN Member States to drive the region's green building industry; a set of recommendations identified in the Gas Advocacy White Paper to enhance liquefied natural gas cooperation and trade in ASEAN; and the Mid-Term Review of the ASEAN Plan of Action for Energy Cooperation 2016-2025, which indicated that ASEAN was on track to meet its collective energy targets by 2020.
Singaporean Minister for Trade and Industry Chan Chun Sing said at the AMEM that these outcomes showcase the commitment of all ten ASEAN member states to deepen regional cooperation and develop mutually beneficial initiatives in the energy space.
"It is important for us to continue working closely together in order to facilitate ASEAN's energy transformation to sustain economic growth, generate greater business opportunities and improve lives in the region," he added.
Editor:Cherie
