SINGAPORE, Oct. 28 (Xinhua) -- The Energy Market Authority (EMA) of Singapore and the Energy Commission of Malaysia (ST) signed a Memorandum of Understanding (MoU) Wednesday to strengthen bilateral cooperation in the energy sector.

According to a joint press release, the MoU provides a framework for both organizations to enhance knowledge sharing and technical cooperation in the planning and reliability of gas and electricity systems, regulation of wholesale and retail electricity markets; and cooperation at multilateral meetings.

The first activity under the MoU will be a virtual dialogue between EMA and ST in the first half of 2021, to discuss the challenges and impact of COVID-19 on the energy sectors in Singapore and Malaysia. The dialogue will allow both organizations to share best practices on regulatory responses to support energy markets while safeguarding consumers' interests.

The MoU was signed on the sidelines of the 13th Singapore International Energy Week (SIEW). With a theme of "Creating Our Low Carbon Energy Future Together," SIEW 2020 includes both onsite and online streaming elements for participants in Singapore and overseas.

Ngiam Shih Chun, Chief Executive of EMA, said this MoU will strengthen the exchanges between EMA and ST and he looks forward to closer collaboration on issues of mutual interest, such as greater integration of renewable energy into their national grids.

Razib Dawood, Chief Executive Officer of ST, said the industry landscape as a whole is becoming more challenging than ever, especially post COVID-19. "We look forward to a greater relationship with our peer in Singapore and we are sure that this will be a win-win collaboration for both countries."

Following the MoU signing, Ngiam and Razib joined other speakers to share their views on the regulatory challenges facing energy systems during a panel discussion at the SIEW Energy Insights.