Malaysia Aspires For More Fruitful, Mutually Beneficial Partnership With Singapore: M'sian Commissioner

By Tengku Noor Shamsiah Tengku Abdullah SINGAPORE, Aug 10 (Bernama) -- Malaysia aspires for a more fruitful and mutually beneficial partnership with Singapore as the latter not only celebrates its Golden Jubilee of independence but also 50 years of diplomatic ties between both countries. In stating this, Malaysian High Commissioner to Singapore, Husni Zai Yaacob said: "2015 is a significant year for Malaysia and Singapore, as it also marks the 50th anniversary of diplomatic relation between the two countries. "We hope that Malaysia and Singapore will continue to build on their strong foundations towards a more fruitful and mutually beneficial partnership, serving the best interest of both nations," he told Bernama here Sunday. He noted that during the 6th Annual Leaders’ Retreat hosted by Singapore in May 2015, both sides reaffirmed their commitment to strengthen bilateral relations by working together for mutual benefits. Prime Minister Lee Hsien Loong also announced that Jurong East has been identified as the terminus for the High Speed Rail (HSR) between Kuala Lumpur and Singapore. Husni Zai said the link will not only benefit the economies of Malaysia-Singapore but would also encourage mutual exchanges in culture and tourism, amongst others. He said Malaysia was Singapore’s second largest trading partner in 2014, with total trade worth S$111.5 billion (US$1 = S$1.38). This accounted for 11.5 per cent of Singapore’s total trade. Malaysia was Singapore’s third major export destination after China and USA, with total exports of S$62.1billion. In addition, Malaysia was Singapore’s second largest source of imports after China, with total imports of S$49.4 billion last year. In terms of investment, Singapore was the second largest foreign investor in Malaysia in 2014 after Japan, with a total investment of S$4 billion. Husni Zai said Singapore, however, ranked first in terms of number of projects and employment created. The republic is the leading investor in Iskandar Malaysia since December 2011 with total investment of S$4.81 billion. Apart from that, he noted Singapore continued to be the biggest contributor to Malaysia’s tourist arrivals, with 13.90 million in 2014, an increase of 5.7 per cent from 2013. It contributed more than 50 per cent of the total market share of tourist arrivals in Malaysia and this trend is set to continue this year. Looking back at past years and looking forward to the future, Husni Zai said it is clear that the sound and stable relationship enjoyed between Singapore and Malaysia have served both countries well. "Our win-win strategy has brought mutual benefits to both sides of the Causeway," added Husni Zai. -- BERNAMA