Malaysia, Singapore can work together to boost intra-Asean trade - Johari
KUALA LUMPUR: Malaysia and Singapore can collaborate to enhance business connectivity within Asean and boost intra-Asean trade by leveraging their strengths in supply chains, the digital economy, and key industries.
Malaysia and Singapore can enhance business connectivity within ASEAN and boost intra-ASEAN trade, according to Malaysia's Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani. This collaboration can be achieved by leveraging their strengths in supply chains, digital economy, and key industries. Johari emphasized their potential to facilitate greater trade and business linkages among ASEAN member states, aiming to increase the share of intra-ASEAN trade.
Currently, intra-ASEAN trade amounts to only about US$800 billion to US$900 billion, compared to the total ASEAN trade of US$4.37 trillion. Johari discussed the possibility of enhancing business connectivity among all ASEAN countries with Singapore's Deputy Prime Minister Gan Kim Yong. The Asean Digital Economy Framework Agreement (DEFA) is an important strategy to strengthen intra-ASEAN trade, with Malaysia proposing DEFA during its ASEAN chairmanship in 2025.
Johari highlighted that Malaysia and Singapore can leverage stronger regional connectivity across various sectors, particularly supply chains, food security, and electrical and electronics.
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