M’sia, S’pore should improve connectivity, market access
SINGAPORE: Malaysia and Singapore need to improve connectivity between both countries to enhance the movement of people as well as goods and services to optimise the benefits from a more open economy going forward.
Connectivity was the main issue raised by International Trade and Industry (Miti) Minister Datuk Seri Mustapa Mohamed during his meeting with his counterpart, Lim Hng Kiang, here, on Wednesday.
“We often hear of the massive congestion at the Johore Causeway and the Second Link which serve as entry points into both countries.
“We understand Singapore’s concerns over security and smuggling issues and hope to work towards a solution to resolve the problem of connectivity.
“It needs to be resolved with the widening market access via the Asean Economic Community and Trans-Pacific Partnership,” he said.
Mustapa told Bernama this at the end of his two-day working visit to Singapore from Tuesday.
He expressed the hope that the issue can be discussed during the Annual Consultation Meeting between Prime Minister Datuk Seri Najib Tun Razak and his Singapore counterpart, Lee Hsien Loong.
According to Mustapa, this year’s Consultation Meeting is scheduled to be held in Kuala Lumpur and a date for it is being finalised.
Malaysia and Singapore have a Transportation Links Work Group which continues to cooperate on strengthening transport connectivity.
In a most recent development, Malaysia confirmed that Bukit Chagar would be the terminus location in Johor Baharu to link to Singapore’s Woodlands North MRT Station.
Besides meeting with Minister Lim, Mustapa also met with Malaysian banks in Singapore, namely Maybank, RHB and CIMB, as well as Fuji Oil Asia Pte Ltd and the Volkswagen Group.
He also had dialogue sessions with the Japanese Chamber of Commerce and Industry Singapore, Singapore Business Federation Council Members, Trade Association and Chambers in Singapore, the EU-Asean Business Council and European Chamber of Commerce Singapore, USAsean Business Council and the American Chamber of Commerce Singapore.
A roundtable discussion with Singapore’s “Think-Tanks” was also arranged for the Minister.
As Singapore is an important
Malaysia to further strengthen economic ties with Iran We often hear of the massive congestion at the Johore Causeway and the Second Link which serve as entry points into both countries.
Miti Minister Datuk Seri Mustapa Mohamed
SINGAPORE: Malaysia will further strengthen economic ties with Iran following the lifting of with international sanctions on the country.
“We will continue to view Iran as an important country to market our products as palm oil,” said International Trade and Industry Minister, Datuk Seri Mustapa Mohamed.
He told Bernama Malaysia had a high level of trade with Iran and Malaysian companies were at present, undertaking a number of housing projects there.
Malaysia-Iran total trade registered RM95 million last year.
Mustapa said his Ministry was aware that one or two other Asean member countries are aggressively exploring new opportunities in Iran as it reenters the global economy.
He also said the Malaysia External Trade Development Corporation (Matrade) would arrange a high level visit to Iran very soon.
Iran has announced that it has the capacity to attract more than RM180 billion in foreign financial resources over the next year, with about RM$60 billion in foreign direct investments.
Iran’s strategic location, political stability, coupled with an 80-million population and massive energy reserves, has made the country an attractive place for foreign investment.
Many trade delegations have visited Iran following the July 2015 nuclear deal. The historic nuclear accord, which removed sanctions against Iran, went into effect on Jan 16, 2016. — Bernama trading partner to Malaysia within Asean, Mustapa led a delegation of more than 40 to the Republic.
It comprised 30 companies and officials from Miti.
“There is strong interest among multinationals in Singapore to invest in Malaysia with its big potential.
“We will continue to promote Malaysia,” he said.
On export numbers to Singapore, he expressed confidence that Malaysia can maintain what was achieved last year. — Bernama