Zambia and the United Arab Emirates (UAE) yesterday signed a memorandum of understanding (MOU) aimed at enhancing cooperation in the development of various carbon emission reduction projects and a carbon trading market.

The agreement was signed by Zambia’s Minister of Green Economy and Environment Collins Nzovu and UAE delegation leader Sheikh Ahmed Dalmook Al Maktoum.

The Zambian minister said the signing of the agreement was one of the outcomes of the visit by President Hakainde Hichilema to the UAE recently.

He said the signing of the MOU was meant to develop initiatives to be added to the framework for bilateral cooperation for the development of low-carbon strategies, activities, projects and programs especially the development of various carbon emission reduction projects in the forestry sector in Zambia.

‘With the signing of the memorandum of understanding, Zambia as chair of the African Group of Negotiators on Climate Change and the UAE as incoming COP-28 President will showcase our collaboration in the carbon market at COP28,’ he said.

Source: The Namibian Press Agency