Indonesia-Philippines Work on Large-Scale Reforestation Project
Indonesia and the Philippines are collaborating on a large-scale reforestation project that has the potential to expedite the carbon market development in ASEAN.
Indonesian Chamber of Commerce and Industry (Kadin) Chairman Arsjad Rasjid said this partnership is one of the projects encouraged by the ASEAN Business Advisory Council (ASEAN-BAC) 2023. "Both countries have significant forest resources, making them major producers of oxygen," Arsjad, also the Chairman of ASEAN-BAC 2023, explained in an interview with The Star.
During the ASEAN Summit in September, Indonesia and the Philippines will finalize the memorandum of understanding in the initial stages of talks. "Hopefully, we can resolve to sign a memorandum of understanding and begin feasibility studies," Arsjad said. Once the project is in progress, more ASEAN countries will join the massive reforestation endeavor.