The Memorandum of Understanding seeks to enhance Launceston's central green spaces by increasing the number of street trees, plantings and arbour systems across the urban realm.

The Memorandum applies to Launceston's central activity area as well as precincts like Mowbray and Kings Meadows, with the second stage of the Launceston City Heart Project agreed as a priority project.

Mayor Albert van Zetten said the Chamber and the Council both shared a vision for Launceston as a more vibrant, greener and dynamic city.

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"The proposed Memorandum provides a framework for the two organisations to accelerate the greening of Launceston with agreed priorities, timeframes and actions," Mayor van Zetten said.

"We at City Council plant 9000 trees a year. What this Memorandum is about is improving on that and we want to make sure the CBD in particular has more greenery. We have some great sites around the city, but there are areas of the city that are neglected and the CBD is one of them."

Mr Van Zetten sited St Johns Street and Paterson Street as key areas where greenery was planned to be added.

Launceston Chamber of Commerce president Andrew Pitt said both organisations were eager to see Launceston positioned as one of the great regional cities of the world.

"When you look at other leading cities around the world many of the most successful boast amazing gardens, incredible parks and beautiful tree-lined streets," Mr Pitt said.

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"There's no doubt Launceston has some of that. But developing a collaborative, ambitious program of accelerated urban greening is about the closest thing to a silver bullet for a city's success that you can find."

Mr Pitt said that urban greening is one of the most effective ways in improving environmental sustainability and social cohesiveness.

"Green spaces enhance livability, they attract people, and spark economic activity, which is why they are a critical consideration in CBD redevelopment projects like the second stage of the Launceston City Heart Project.

"In a similar way to food and gastronomy, ambitious urban greening cuts across economic, social and environmental outcomes in a way that provides great return on investment.

"When were building up our case for this at the chamber meeting we looked at other city and their experiences and research all around the world. It's pretty iron clad that city greening increases visitation and increases the amount of time people spend in the city and works well with business.

Other elements of the Memorandum include the development of an Urban Forest Plan to retain and significantly increase canopy cover across Launceston, to ensure new residential subdivisions are subject to high standards of greening, to consider the establishment of new community gardens, to work with environmental agencies on riverbank re-vegetation, and to explore opportunities to harvest stormwater for use in city green spaces.