3 Historic Agreements To Deepen Cooperation In Our Economy

by Malvin Tan | 31 January 2023 | 5 mins read

Image Ref: Singapore and Malaysia signed three agreements to strengthen bilateral cooperation and collaborate on opportunities in the digital economy and green economy, as well as work closely on data protection and cyber security.

Key factors for investors to take note:

GREEN: The first agreement is between the Ministry of Trade and Industry in Singapore and the Ministry of International Trade and Industry in Malaysia, aimed at strengthening cooperation in the green economy. The countries aim to decarbonize their industries, explore low-carbon solutions and exchange information on carbon markets.

 

DATA: The second agreement is a memorandum of understanding on cooperation in personal data protection, cyber security, and digital economy between the Ministry of Communications and Information in Singapore and the Ministry of Communications and Digital in Malaysia. This agreement will facilitate the exchange of knowledge and best practices in areas such as data protection policies and emerging technologies.

 

DIGITAL: The third agreement is between the same Ministries, aimed at cooperation in the digital economy. It seeks to enhance cooperation beyond existing trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership. Areas of cooperation will include trade facilitation, cross-border data flows, digital identities, and support for digitalization of industries and small businesses.

 

Overall, its important to note that the historical development/agreements does not guarantee the future results. The above factors should be considered in mind with the local political climate, economic conditions, and potential for future development in the area.

Related Resources:

  1. Singapore, Malaysia sign agreements to deepen cooperation in digital, green economy: https://www.straitstimes.com/singapore/malaysian-pm-anwar-ibrahim-arrives-in-singapore-for-official-visit
Article by Malvin Tan

Article by Malvin Tan

Malvin graduated from NTU in Physics. He has gone on to achieve top awards and also qualified as a Chartered Financial Consultant and IBF Advanced. Malvin loves when a plan comes together. When he isn’t planning his client’s insurance, he would be planning where to bring his son, out on the weekend.

DISCLAIMER: The contents including images, videos, audio and written texts found on the author’s social media page and other platforms does not constitute a research report and it does not have regard to the specific investment objectives, financial situation and particular needs of any specific recipient of this message. All material and content are strictly for informational purposes only. The contents posted should not constitute financial or investment advice and should not be considered as an offer, or solicitation, to deal in any of the securities or investment instruments mentioned in this message. The author may, from time to time, own or have positions in any of the securities mentioned or referred to in his content or any securities related thereto and may from time to time add to or dispose of or may be materially interested in any such securities. All thoughts are the author’s own.

Knowing where to start

Starting out on a clean slate with financial planning can be a daunting one, but there is always somewhere to start if you feel hesitant to speak with a financial consultant before doing any research. More often than not, you would already have some form of insurance protection before you know it. Arm yourself with the right information and start your financial planning process right!

 

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