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:
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
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