Latest news with #Malaysia-Singapore
The Sun
3 days ago
- Politics
- The Sun
King and Queen congratulate Singapore on 60th National Day
KUALA LUMPUR: His Majesty Sultan Ibrahim, King of Malaysia, and Queen Raja Zarith Sofiah have congratulated Singapore on its 60th National Day. The royal couple conveyed their greetings through an official statement released by Istana Negara. Their Majesties expressed hope for continued strengthening of Malaysia-Singapore relations. 'Malaysia and Singapore have enjoyed strong ties for a long time, and I believe this relationship will continue to grow,' Sultan Ibrahim stated. The message was also shared on His Majesty's official Facebook page. The statement highlighted the mutual benefits of close bilateral cooperation. Singapore celebrates its National Day today, marking six decades of independence. - Bernama
The Sun
3 days ago
- Business
- The Sun
Singapore leaders praise Malaysia's role in Thailand-Cambodia crisis
SINGAPORE: Singapore's leaders have praised Malaysia's efforts in managing the crisis along the Thailand-Cambodia border. Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi shared this during his two-day working visit to Singapore. Prime Minister Lawrence Wong and Deputy Prime Minister Gan Kim Yong conveyed their appreciation in separate meetings. Ahmad Zahid highlighted Malaysia's commitment to regional peace and stability. He attended the Singapore National Day Parade at the invitation of the Singapore government. During the meetings, he congratulated Singapore on its 60th National Day celebrations. Discussions with PM Wong focused on strengthening bilateral ties and strategic projects. Both leaders explored ways to boost foreign direct investment and job creation in Malaysia. New areas of cooperation in tourism and TVET were also discussed. The gig economy's legal framework was another key topic of conversation. Ahmad Zahid shared Malaysia's initiatives to protect gig workers through social policies. In talks with DPM Gan, the importance of ASEAN's market potential was emphasised. Malaysia's role as a leading halal hub was also highlighted. Gan noted Singapore's support for Malaysia's TVET sector through trainer exchanges. Ahmad Zahid described the discussions as productive and forward-looking. He expressed optimism about closer Malaysia-Singapore strategic cooperation. The meetings concluded with a luncheon hosted by Singapore President Tharman Shanmugaratnam. - Bernama
New Straits Times
3 days ago
- Business
- New Straits Times
DPM Zahid arrives in Singapore for republic's national day parade
SINGAPORE: Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi arrived in Singapore on Saturday for a two-day working visit and to represent the Malaysian government at the 2025 Singapore National Day Parade this evening. He was received by Singapore's Minister for Foreign Affairs Dr Vivian Balakrishnan and Singapore High Commissioner to Malaysia Vanu Gopala Menon. "This visit is highly significant as this year marks the 60th anniversary of Malaysia-Singapore diplomatic relations. "God willing, I believe this visit will further strengthen the longstanding friendship between our two nations and open more doors for cooperation that will benefit our people and countries," Zahid said in a post on Facebook. During the visit, he is scheduled to pay a courtesy call on Singapore Prime Minister Lawrence Wong and hold a bilateral meeting with Singapore's Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong. Zahid, who is also the rural and regional development minister, said discussions will focus on bilateral cooperation and matters of mutual interest to strengthen existing ties. In 2024, Singapore was Malaysia's second-largest trading partner globally and its largest among Asean member states, with total trade amounting to about RM396.22 billion (US$86.69 billion). For the period of January to March this year, bilateral trade increased by 12.2 per cent to RM97.93 billion (US$22.00 billion). — Bernama
The Star
3 days ago
- Business
- The Star
Zahid arrives in Singapore for the 2025 Singapore National Day Parade
SINGAPORE: Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi arrived in Singapore on Saturday for a two-day working visit and to represent the Malaysian government at the 2025 Singapore National Day Parade on Saturday evening (Aug 9). He was received on arrival by Singapore's Minister for Foreign Affairs Dr Vivian Balakrishnan, and Singapore High Commissioner to Malaysia Vanu Gopala Menon. "This visit is highly significant as this year marks the 60th anniversary of Malaysia-Singapore diplomatic relations. "I believe this visit will further strengthen the longstanding friendship between our two nations and open more doors for cooperation that will benefit our people and countries," Ahmad Zahid said in a post on Facebook. During the visit, he was scheduled to pay a courtesy call on Singapore Prime Minister Lawrence Wong and hold a bilateral meeting with Singapore's Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong. Ahmad Zahid, who is also the Minister of Rural and Regional Development, said discussions would focus on bilateral cooperation and matters of mutual interest to strengthen existing ties. In 2024, Singapore was Malaysia's second-largest trading partner globally and its largest among Asean member states, with total trade amounting to about RM396.22bil (US$86.69bil). For the period of January to March this year, bilateral trade increased by 12.2% to RM97.93bil (US$22.00bil). – Bernama
The Sun
10-07-2025
- Business
- The Sun
Malaysia should strengthen Asean ties, engage in multilateral cooperation to counter trade pressures: Experts
KUALA LUMPUR: Malaysia should continue to strengthen its intra-Asean trade relations and engage in multilateral partnerships, as this approach will reduce dependence on any single country and benefit all parties by minimising both trade and non-trade barriers, including tariffs and the movement of goods across borders. Amid an increasingly dynamic geopolitical landscape and rising unilateralism, Malaysia cannot control the actions of other countries that impose tariffs and duties as pressure tactics. However, it can choose to respond diplomatically and in ways that align with its national interests. Economist Dr Nungsari Ahmad Radhi said Malaysia should maintain its current strategy of negotiating with the United States while simultaneously forming alliances and bolstering existing trade relations, especially within Asean. 'We leverage US companies to lobby the US government, since a significant portion of electronics and electrical exports involve intra-firm trade by US companies across borders,' he told Bernama today. However, Nungsari emphasised that Malaysia must consistently support multilateral institutions over the long term. 'We need to do more to integrate Asean economies, even on a bilateral basis if not all at once, such as Malaysia-Singapore. We should deepen cooperation between Malaysia and Thailand, and definitely between Malaysia and Indonesia. 'Achieving free movement of goods between Malaysia and Singapore in the form of a customs union, Malaysia and southern Thailand, Sumatra and Peninsular Malaysia, and Sabah and Sarawak, with Kalimantan, are areas that should be explored and strengthened,' he added. Sharing the same view, Putra Business School Associate Professor Dr Ahmed Razman Abdul Latiff said that as long as there is room for negotiation, Malaysia should seize the opportunity, since some countries, like the Philippines and Vietnam, among others, have successfully reduced tariffs. 'We hope that this time the negotiations will succeed in lowering tariffs, if not eliminating them. We must continue negotiating because it is not impossible to secure exemptions or reductions.' Malaysia has been negotiating with Washington to reduce these tariffs since April, with the latest round of talks held on June 18. Ahmed Razman pointed out that Malaysia cannot rely solely on the outcome of these negotiations. 'We must continue to seek new markets, strengthen the domestic economy, and diversify our industrial products so that if tariffs are imposed on one sector, the impact will not be severe.' Ahmed Razman stressed that Malaysia should boost intra-Asean trade, given the vast untapped potential. 'There is still room to increase trade among Asean countries. Trading within Asean reduces supply chain disruptions and tariff impacts, while also supporting local economies and the Asean economy as a whole,' he explained. Ahmed Razman elaborated that Malaysia's participation in agreements such as the Regional Comprehensive Economic Partnership, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, and BRICS would lower costs through tariff elimination among member countries, reduce import duties, and facilitate the movement of goods. 'That is where I see the potential for cooperation with countries that have signed agreements with us,' he added. The US has imposed a 25% tariff on all Malaysian products imported into the country, separate from sector-specific tariffs, effective Aug 1. This rate is one percentage point higher than what was announced in April. In a letter to Prime Minister Datuk Seri Anwar Ibrahim dated July 7, US President Donald Trump stated that 'the 25 per cent number is far less than what is needed to eliminate the trade deficit disparity we have with your country'. However, the letter also noted that no tariffs would apply if Malaysia or Malaysian companies choose to build or manufacture products within the United States, and that Washington 'will do everything possible to get approvals quickly, professionally, and routinely - in other words, in a matter of weeks'. Malaysia has been negotiating these US tariffs with Washington since April, aiming to reduce the earlier 24% tariff, with the most recent discussions held on June 18. Senior lecturer at the School of Economics, Finance and Banking at Universiti Utara Malaysia (UUM), Muhammad Ridhuan Bos Abdullah, said that in the short term, industrial supply chains affected by the new tax will be disrupted as companies absorb the shock. 'A national stabilisation policy is crucial to drive growth by responding effectively to tariff issues, as competition is the main challenge. Bank Negara Malaysia, along with monetary and fiscal policies supported by appropriate instruments, must be more capable of absorbing the impact of US tariffs.' Muhammad Ridhuan said Malaysia's response policies to support competitiveness need to be stronger. 'We must understand that labour costs in the US have been rising steadily, making it an important factor for businesses. 'This trend is driven by factors such as wage increases, higher interest costs, and a competitive labour market. Rising labour costs impact various industries there,' he added. – Bernama
