Australia and Indonesia on Sunday signed a multi-million-dollar forestry agreement with the aim to reduce greenhouse gas emissions by a great amount.
The agreement was signed by Australian Foreign Minister Alexander Downer and his Indonesian counterpart Hassan Wirajuda on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Economic Leaders Meeting being held here.
The Kalimantan Forests and Climate Partnership, worth 100 million Australian dollars (82.3 million U.S. dollars), aims at cutting greenhouse gas emissions by about 700 million tons over 30 years, Downer said.
It aims to preserve 70,000 hectares of peat land forests in Indonesia's Kalimantan region.
The agreement will also help re-flood 200,000 hectares of dried peat land and plant up to 100 million new trees on rehabilitated peat land for conservation purposes.
The signing of the agreement was witnessed by Indonesian President Susilo Bambang Yudhoyono, who is in Sydney for the APEC leaders meeting.
Source: Xinhua
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