DAVOS (Switzerland): Malaysia and Singapore are set to sign a memorandum of cooperation (MOC) in digital and green economy, the first for Putrajaya amid the growth potential in both sectors, Minister of International Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz said.
Digital trade is among the fastest-growing trades and will surpass physical trade by 2025, he acknowledged.
"In fact, we are hoping to conclude our first MOC in digital and green economy with our neighbour Singapore and will be witnessed by both countries' prime ministers soon," he told Bernama at the end of the World Economic Forum (WEF) 2023 here.
Prime Minister Datuk Seri Anwar Ibrahim is scheduled to make his official first visit to the city-state at the end of January.
Singapore's Prime Minister Lee Hsien Loong had invited Anwar to visit Singapore after the latter was sworn in as Malaysia's 10th Prime Minister.
Tengku Zafrul said the discussion with Singapore on the MOC in digital trade and green economy started last year and has been presented to the Cabinet, which has given its approval for it to be concluded soon.
"In short, this is the beginning as we are also in talks with other countries," he said.
Asked if Malaysia will also take a multilateral approach in digital and green economy trade deals, the minister said: "Of course. Whatever needs to be done quickly, we do it first. It has to be done concurrently.
"We are also a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, many other Asean free trade agreements and the Regional Comprehensive Economic Partnership. But the first one will be bilateral."
According to a WEF article, the Digital Economy Partnership Agreement between Chile, New Zealand and Singapore is the first digital-only trade agreement open to all World Trade Organisation (WTO) members, and the first to be signed electronically in June 2020.
It was designed to complement the WTO negotiations on e-commerce and digital economy work underway within other international forums such as the Asia Pacific Economic Cooperation and Organisation for Economic Cooperation and Development.
The most recent digital economy agreement is the United Kingdom-Singapore Digital Economy Agreement, which entered into force in June 2022 after only six months of negotiations.
Without revealing more details, Tengku Zafrul said he will also be part of the delegation during the Prime Minister's visit to Singapore.
"Singapore is very important to Malaysia and vice versa. It is good to continue this level of engagement. I won't want to pre-empt the details. Suffice it to say, the Ministry of International Trade and Industry (Miti) is looking forward, together with my counterpart in Singapore, to signing the MOC," he said.
Singapore's Minister for Trade and Industry is Gan Kim Yong.
According to data by Miti released recently, Singapore accounted for Malaysia's largest value of exports among Asean nations at RM232.57 billion in 2022, followed by Thailand, Indonesia, Vietnam and the Philippines.
Singapore, Thailand and Indonesia were the top three export destinations in 2022, accounting for 78.3 per cent of Malaysia's total exports to Asean.
Exports to almost all Asean countries registered a new record high.
-- BERNAMA
Bernama
Sat Jan 21 2023
Malaysia and Singapore are set to sign a MOC in digital and green economy, the first for Putrajaya amid the growth potential in both sectors, Minister of International Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz. - WEF
Boling Padang: Farah Ain muncul juara dunia!
Farah pamer aksi luar biasa dalam penampilan sulungnya di pentas bertaraf dunia dengan kemenangan straight sets 6-2 dan 6-3.
Sultan Nazrin, Tuanku Zara hadiri majlis Aidilfitri PDRM Perak
Sultan dan Raja Permaisuri Perak berkenan berangkat menghadiri Majlis Sambutan Aidilfitri PDRM Kontinjen Perak 2024.
Nahas helikopter Lumut: Kebajikan, pendidikan anak-anak wira dipastikan tidak terabai - Menteri
Kementerian Pendidikan lakukan susur tindak bagi memastikan kebajikan 10 orang anak mangsa nahas helikopter dijaga sehingga tamat persekolahan kelak.
Bintang TikTok Iraq, Umm Fahad ditembak mati di luar rumah
Pihak berkuasa Iraq umum penubuhan "jawatankuasa siasatan khas- untuk menjejaki pembunuh yang tidak dikenali itu.
PM Anwar tiba di Riyadh untuk hadiri Mesyuarat Khas Forum Ekonomi Sedunia
Perdana Menteri Anwar tiba di Riyadh dalam rangka lawatan tiga hari bagi menghadiri Mesyuarat Khas Forum Ekonomi Sedunia (WEF).
Jemputan peribadi ke Mesyuarat Khas WEF bukti keakraban Putera Mahkota Mohammed, PM
Ini merupakan lawatan keempat Anwar ke Arab Saudi sejak dilantik sebagai Perdana Menteri.
Kerajaan Pusat peruntuk RM1.59 bilion untuk pembangunan fizikal di Terengganu
Peruntukan tersebut melibatkan 99 projek baharu dan 296 projek sambungan di bawah Rolling Plan 4 (RP4) Rancangan Malaysia ke-12 (RMK12).
Pahang rancang wujudkan zon perindustrian di setiap daerah
Kerajaan Pahang rancang wujudkan zon perindustrian di kesemua 11 daerah di negeri ini bagi menggalakkan kemasukan lebih banyak pelaburan asing khususnya dari China.
Kertas kabinet wujud sektor sukan dibentang dalam tempoh sebulan - Hannah
Hannah berkata dengan data yang lebih menyeluruh melibatkan sektor industri sukan nanti, pihaknya akan mampu merangsang pertumbuhan sukan di negara ini dengan lebih baik.
Tiga Syarikat Semikonduktor umum melabur di Pulau Pinang - Kon Yeow
Tiga syarikat semikonduktor dari China menyatakan komitmen untuk membuat pelaburan baharu di Pulau Pinang.
Titah Adendum: Peguam Negara bawa perkara dibangkitkan Tengku Zafrul ke mahkamah
Jabatan Peguam Negara akan membawa perkara berhubung kenyataan yang dibuat oleh Menteri Pelaburan, Perdagangan dan Industri, Datuk Seri Tengku Zafrul Abdul Aziz kepada perhatian pihak Mahkamah.
Kerajaan mahu syarikat Malaysia manfaatkan FTA, teroka pasaran baharu
Katanya, Matrade telah diberikan tanggungjawab untuk menumpukan usaha memperoleh pasaran baharu untuk diterokai syarikat Malaysia.
Tengku Zafrul ke Munich bawa misi pelaburan dalam jeda lawatan PM ke Jerman
Katanya, pihak MATRADE telah anjurkan beberapa mesyuarat dengan rakan dagang besar yang beribu pejabat di Jerman.
Dialog MITI 2024: Kerjasama sektor awam-swasta, agenda perindustrian semula
Pelaksanaan NIMP adalah penting bagi Malaysia untuk terus meningkatkan daya saing landskap perniagaan dan pelaburan negara.
Malaysia perlu sedia ambil risiko terhitung, tempa masa depan ekonomi baharu - Tengku Zafrul
Malaysia perlu bersedia untuk mengambil risiko yang terhitung ketika menempa masa depan ekonomi baharu bagi negara ini, terutama dalam ekonomi digital dan ekonomi hijau.
CPTPP bantu Malaysia raih FDI RM14.9 bilion pada suku ketiga 2023 -- Tengku Zafrul
Tengku Zafrul berkata FDI dari Jepun meningkat sebanyak RM4 bilion manakala dari Australia naik sebanyak RM1 bilion berbanding 2022.
MITI optimistik 2024 tahun lebih positif bagi FDI ke dalam Malaysia
MITI optimistik 2024 akan menjadi tahun yang lebih positif bagi pelaburan langsung asing (FDI) ke dalam Malaysia, memanfaatkan perancangan yang telah dirangka.
ASEAN akan mulakan rundingan DEFA bagi tingkatkan ekonomi digital, jana AS$2 trilion menjelang 2030
DEFA akan dilancarkan secara rasmi pada mesyuarat Majlis Komuniti Ekonomi ASEAN ke-23 dan pengiktirafan oleh Pemimpin ASEAN pada sidang kemuncak serantau ke-23 bulan depan.
Bank-bank Malaysia kekal berdaya tahan dalam mendepani cabaran operasi - Kementerian Kewangan
Tengku Zafrul berkata, isu pinjaman tanpa cagaran bukanlah sesuatu yang luar biasa dalam sektor perbankan.
Peruntukan tambahan RM100 juta bagi urus kewangan, bajet kerajaan - Tengku Zafrul
Ini termasuk RM10 juta untuk Jabatan Audit Negara bagi memperkukuh keupayaan dan pengoptimuman proses pengauditan.