Singapore Malaysia Relation

Seminar on "Enhancing Malaysia - Singapore Business Cooperation", Singapore, Thursday 1 August 2002, 10.00 am The presence here today of a large number of participants at this Seminar is a reflection of the continued strong interest of the Singaporean business community on collaboration with Malaysia in the economic sector. While there are reports of apparent differences between Malaysia and Singapore at the political level, the fact remains that the Malaysian and Singaporean economies are closely intertwined and both countries have benefited from this close relationship. Being close neighbours, there are bound to be differences on various issues from time to time. This however, has not and should not affect the development of the close business collaboration between the private sectors of both our countries. The recent visit of the Singapore Trade Minister to Malaysia with a business delegation and the Seminar here today reflect the efforts by both countries to enhance private sector collaboration in trade and investment. It is the aim of this Seminar to update the Singapore business community here on the latest developments in Malaysia and the business and investment opportunities available in Malaysia.

Malaysia and Singapore Economic Cooperation The strong economic relationship between Malaysia and Singapore is reflected in the extensive linkages between both countries such as in trade and Investment, financial services and tourism. A large number of Malaysian are also working and resident in Singapore. It is recognized that there are areas in which we compete, for example, in port and airport development, but there are also many areas where we complement one another. Malaysia needs to develop our own infrastructure facilities, such as ports and airports, to cater to our own domestic requirements. In the long run, with the expansion and growth of ASEAN as an entity and our global trade, there would be sufficient demand for these infrastructural facilities of