Malaysia's International Trade Minister To Discuss Trade, Investment Issues With Singapore Counterpart

SINGAPORE, May 25 (Bernama) – Malaysia’s International Trade and Industry Minister Mustapa Mohamed will undertake a working visit to Singapore for two days until Thursday. In a statement Wednesday, the Ministry of International Trade and Industry (MITI) said Mustapa was scheduled to meet his Singapore counterpart, Lim Hng Kiang, to discuss trade and investment issues, as well as future collaborations to enhance bilateral economic relations. The Minister will also meet with several multinational and homegrown companies, as well as trade associations and chambers to discuss investment opportunities in Malaysia. A networking session with Malaysian professionals working in Singapore and visits to MediaCorp and Temasek were also included in his programme, said MITI. Singapore is Malaysia’s second largest trading partner, with RM52.8 billion(US$1=RM4.30) total trade in the first quarter of 2017, constituting 12.3 per cent of Malaysia’s total global trade, and 44.5 per cent of total trade among ASEAN member countries. Singapore is also Malaysia’s largest investor from ASEAN. To date, Malaysia has approved US$801.3 million in investments with Singapore participation, involving 4,421 in manufacturing projects, creating some 521,540 employment opportunities. Singapore companies have a strong presence in sectors such as electrical and electronics, food manufacturing, chemicals, and metal products. -- BERNAMA