Singapore, Brazil to boost cooperation, work together on climate change

Singapore and Brazil have signed an agreement to boost cooperation in capacity-building initiatives, the countries said on Monday.

They also pledged to work together on climate change, with Singapore further pledging to support Brazil’s bid to host the 2025 COP30 international climate summit in the North Eastern city of Belem.

Singapore and Brazil said in a joint statement that Foreign Minister Vivian Balakrishnan and his Brazilian counterpart Mauro Vieira signed – in Brasilia, the Brazil capital – a memorandum of understanding on the Brazil-Singapore cooperation programme to third countries.

The programme aims at facilitating cooperation between Singapore and Brazil in jointly providing capacity-building initiatives to developing countries in Latin America, the Caribbean and the Asia-Pacific.
 

Dr Balakrishnan is in Brazil for a three-day official visit from April 16. He met Mr Vieira on Monday, as part of their inaugural first political consultation meeting.

Dr Balakrishnan will also meet Brazil’s Vice-President Geraldo Alckmin, Speaker of the House of Representatives Arthur Lira, Finance Minister Fernando Haddad and Minister of Environment and Climate Change Marina Silva.

“Singapore’s relationship with Brazil is dynamic and forward-looking, based on a very strong foundation of trust, mutual respect and goodwill. We are looking forward to the opportunities of the future,” Dr Balakrishnan said in a joint news conference with Mr Vieira on Monday, adding that Singapore looked to Brazil as a partner of choice for deepening their cooperation across Latin America.

The joint statement also said both ministers decided to initiate negotiations on a Treaty on Mutual Legal Assistance in Criminal Matters, aimed at deepening bilateral cooperation on legal issues.

They also agreed to strengthen cooperation in the education field, including student exchanges at university level, and to increase academic mobility in both directions.

During the news conference, Dr Balakrishnan said Singapore and Brazil have worked closely to strengthen institutional linkages that will boost economic cooperation.

He cited the Avoidance of Double Taxation Agreement (DTA) between the two countries, which entered into force in 2021, and the Mercosur-Singapore Free Trade Agreement (FTA), which is yet to be signed.
 

The DTA lowers barriers to cross-border investment and aims to boost trade and economic flows between the two countries.

The Mercosur-Singapore FTA will increase business opportunities and foster private sector engagements among Singapore, Brazil and the other Mercosur state parties.

Dr Balakrishnan expressed hopes that the early signing of the Mercosur-Singapore FTA can be done later this year.

“Together, we believe these two agreements will benefit businesses in both Brazil and Singapore, and boost trade and investment flows both ways,” said Dr Balakrishnan.

The joint statement noted that Dr Balakrishnan and Mr Vieira welcomed the rapid growth in trade and investments between the two countries in recent years.

Brazil is Singapore’s largest trading partner in Latin America and Singapore is Brazil’s largest trading partner in Southeast Asia and third largest in Asia.

In 2022, their bilateral trade in goods grew by more than 70 per cent year on year.

“They (the ministers) took note, with satisfaction, of Singaporean investments in the development of Brazilian infrastructure and logistics and of Singapore’s role as a hub for Brazilian business in Southeast Asia,” said the joint statement.

It added the ministers also welcomed the recent conclusion of the negotiations of a regionalisation plan for highly pathogenic avian influenza controls in Brazil.

The statement said Dr Balakrishnan and Mr Vieira recognised the strategic role of science, technology and innovation for the competitiveness of their countries’ economies and agreed to encourage interaction between the two countries’ innovation ecosystems.

On climate change, the statement said both ministers recognised the need to work together on the issue, including promoting environmentally sustainable development, by accelerating the implementation of the commitments made under the United Nations Framework Convention on Climate Change and its Paris Agreement.

“We believe combating climate change is a priority for both of us – it is a preoccupation for our countries. We have agreed to strengthen climate cooperation, especially in the development of fair, inclusive, and well-functioning global carbon markets,” said Dr Balakrishnan during the news conference.
 

Both countries intend to work towards entering into a bilateral cooperation framework under Article 6 of the Paris Agreement by or around COP28 – set to take place from Nov 30 to Dec 12 – with a view to negotiating an implementation agreement.

“I also expressed Singapore’s support for Brazil’s bid to host COP30 in Belem,” said Dr Balakrishan. “I am certain that Brazil will have the capacity, the experience, the commitment and the moral authority to bring us to a successful COP30.”

He said Mr Vieira also briefed him on Brazil’s plans and preparations for its 2024 G-20 presidency, noting that there had never been a more critical time for multilateral cooperation on a global scale.

“I believe that Brazil is uniquely positioned to provide the leadership that the world needs to safeguard the global commons and to achieve the Sustainable Development Goals,” he added.

Source: The Straits Times © SPH Media Limited. Permission required for reproduction.