WELLINGTON, Dec. 20 (Xinhuanet) -- The governments of New Zealand and Austria have signed a co-operation arrangement on the implementation of emission reduction projects and for the trading of Kyoto Protocol emissions units.

    According to a government statement released here Monday, the arrangement was signed by senior government officials from both countries on Saturday during the 10th meeting of the Conference to the Parties of the United Nations Framework Convention on Climate Change that is being held in Buenos Aires.

    The Austrian government recently called for expressions of interest in the second tender round of its program to accrue tradable emission reduction units. The signing of this arrangement signals the NZ and Austrian governments' commitment to encouraging Kiwi business to get involved in Joint Implementation projects with Austria.

    "This agreement demonstrates the determination of both governments to tackle climate change," New Zealand Convenor of Ministerial Group on Climate Change, Pete Hodgson, who signed the deal, said.

    "New Zealand's pro-active, pro-business approach to climate change is good news for the economy and the environment. Participation in the Projects to Reduce Emissions program and this arrangement are innovative examples of how businesses can gain a real competitive advantage from tackling climate change," Hodgson said.

    The governments of New Zealand and the Netherlands signed an emissions trading co-operation arrangement in August.

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