The Malaysia-Singapore Business Council (MSBC) has called for the strong momentum in bilateral economic ties to be translated into more practical measures that make it easier for companies to operate across both countries.
The call followed the MSBC Business Lunch and Dialogue held on Oct 1 with Malaysia’s Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani and Singapore Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong.
Business leaders at the dialogue focused on how both countries can build on the Johor-Singapore Special Economic Zone (JS-SEZ) while expanding cooperation beyond it, particularly in three areas: business mobility, supply-chain resilience and smoother cross-border movement of goods.
MSBC welcomed ongoing improvements in physical connectivity, immigration facilitation and customs procedures, but said the next phase should concentrate more heavily on the practical experience of businesses operating across the border.
On business mobility, the council highlighted the need for more efficient arrangements for frequent business travellers, engineers, technicians and other skilled personnel who may need to cross the border at short notice for operational or technical assignments.
It said smoother movement of personnel would help companies with integrated Malaysia-Singapore operations and strengthen the overall attractiveness of the bilateral economic relationship.
Supply-chain resilience was another major focus, with MSBC saying recent global disruptions had underscored the importance of strengthening regional production and sourcing capabilities.
The council sees scope for Malaysia and Singapore to leverage their complementary strengths to reduce exposure to external shocks and build more resilient supply chains.
MSBC also called for further efforts to reduce friction arising from customs procedures, regulatory requirements and differing standards.
Greater alignment, mutual recognition where appropriate and more integrated digital processes could reduce duplication, improve predictability and speed up the movement of goods between the two countries, it said.
Dedicated Task Force Planned
As a follow-up, MSBC plans to establish a dedicated task force to develop business-led proposals for consideration by the Malaysian and Singapore governments.
The task force is expected to examine areas including cross-border connectivity and mobility, digitalisation and digital trade, supply-chain resilience, customs and trade facilitation, regulatory cooperation and other emerging areas of economic integration.
MSBC said the emphasis would be on concrete proposals backed by actual business requirements and use cases, rather than broad policy recommendations.
“Malaysia and Singapore already have a strong economic relationship. The next step is to translate this strength into practical measures that make it easier for businesses to operate across both countries,” said MSBC Malaysia co-chairman Tan Sri Datuk Nik Norzrul Thani.
His Singapore counterpart, Dr Robert Yap, said both countries have “highly complementary strengths” that could be better connected to create a more competitive and resilient economic ecosystem.
MSBC said closer bilateral cooperation could also serve as a useful model for wider ASEAN economic integration if successful initiatives can be replicated regionally.
The council said it would work with the Federation of Malaysian Manufacturing, Singapore Business Federation and other stakeholders to advance the initiative.
