MINISTER TO LEAD MALAYSIAN TRADE MISSION TO SINGAPORE

By Zakaria Abdul Wahab

SINGAPORE, July 30 (Bernama) -- International Trade and Industry Minister
Mustapa Mohamed will lead a Malaysian trade and investment mission to Singapore
on August 6.

The mission is aimed at enhancing bilateral economic relations between both
countries as well as attracting companies from the republic to invest and do
business in Malaysia, according to a joint media statement by the organisers
released here Thursday.

The mission is jointly organised by the Malaysian Industrial Development
Authority, Malaysia External Trade Development Corporation, Malaysia's Ministry
of International Trade and Industry, the Singapore Business Federation,
International Enterprise Singapore, and sponsored by Maybank.

During the mission, Mustapa and his Singapore counterpart Lim Hng Kiang will
address the Singapore business community at a dialogue session entitled
"Business Opportunities in Malaysia" at the Raffles City Convention Centre.

The dialogue will be moderated by Singapore Business Federation chairman
Tony Chew.

The Malaysian delegation will include those from the electronics, machinery
and equipment, pollution control equipment, metal fabrication, information and
communications technology (ICT) products, automotive parts and components,
cosmetics, processed food and plastic and rubber products sectors.

Also in the delegation are those from the business consultancy services,
engineering services, industrial estate and property development, and regional
establishments.

The organisers are also arranging business meetings between the private
sectors of both countries towards the close of the dialogue session.

Bilateral trade and investment between Malaysia and Singapore has always
been strong due to the historical and cultural ties between the two nations.

With Singapore's strong currency, coupled with Malaysia's lower costs of
land and labour, inbound investment from the city state has traditionally
increased over the years with the island nation ranking among the top investing
countries into Malaysia.

Last year, Malaysia remained Singapore's top trading partner with bilateral
trade reaching S$111.4 billion, an increase of 1.4 percent from the year before.

Key trading products include electronics, petrochemical products, jewellery
and metal manufactures.

Singapore was the sixth largest investor in Malaysia for 2008, with
investments amounting to RM2.0 billion (S$813 million) in 112 projects compared
to 108 projects the previous year.

The city-state is currently the largest overseas investor in Malaysia for
the first five months of the year, investing RM1.05 billion in 28 projects.

Singapore's investments in new manufacturing projects are mainly
concentrated in the electronics, electrical and basic metal sectors.

There is no registration fee for participants and those interested in the
dialogue session can contact the Singapore Business Federation at email:
participate@sbf.org.sg or MITI Singapore at Tel: 62220126 or email:
mitising@singnet.com.sg.
-- BERNAMA