New service cluster in emission reduction across Asia

Chennai, Apr 28 (UNI) To give an impetus to development of energy efficient services and technologies, Singapore would partner with India to develop a new service cluster in emission reduction across Asia, Mr Ajit Singh, Consul General Designate, Singapore Consulate here said.

Speaking at a Seminar on ''A Consortium Approach to Clean Development Mechanism (CDM) and Carbon Trading'', organised by the Confederation of Indian Industry (CII) in association with International Enterprise (IE) Singapore, Mr Singh said there was huge potential for collaboration between Singapore and India in these areas.

He said Singapore could develop sustainable development projects in the areas of fly ash recycling in India and offer specialised services in the design, consultancy, manufacturing, installation and maintenance of energy reduction and treatment systems to Indian companies.

He said with the Kyoto Protocol coming into force since last year, there is now an enforceable global framework to tackle the adverse impact of climate change and emissions trading is paving the way in the development of a working model to incorporate emission reduction at the company level.

Outlining the bilateral trade, Mr Singh said the total trade with India has reached a record of 16.6 billion Singapore dollars in 2005, marking a 41 per cent jump in trade, compared to 2004, he said.

Singapore has also become India's 7th largest inward investor country with cumulative investments of US 940 million dollars he added.

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