Loading ...
Sorry, an error occurred while loading the content.
 

[ASIA] Singapore/Malaysia Team Needed for India/China Competition

Expand Messages
  • madchinaman
    Singapore, Malaysia must cooperate to face growing economic giants India, China: DPMs http://asia.news.yahoo.com/061128/5/singapore243836.html KUALA LUMPUR:
    Message 1 of 1 , Dec 11, 2006
      Singapore, Malaysia must cooperate to face growing economic giants
      India, China: DPMs
      http://asia.news.yahoo.com/061128/5/singapore243836.html


      KUALA LUMPUR: Malaysia and Singapore must collaborate in order to
      face the economic giants of China and India.
      The call was made by the deputy prime ministers of Singapore and
      Malaysia during a regional conference organised by the London
      Business School.

      Bilateral ties between Singapore and Malaysia may suffer the
      occasional hiccups, said Malaysia's DPM Najib Razak, but when it
      comes to economics, the logic is clear as day -- both countries must
      stop competing against each other to stay ahead of the pack.

      He said: "We must raise our political will to work together where we
      can and accommodate each other in areas where we cannot. We must
      build the necessary partnerships to take advantage of new
      opportunities present within the region."

      New opportunities that may also benefit the rest of Asean.

      Mr Najib's Singapore counterpart, Wong Kan Seng, stressed the
      importance of being in a position to take advantage of the growth of
      China and India. ADVERTISEMENT



      Mr Wong said: "The Chinese and Indian winds of growth can propel the
      sails of Singapore's, Malaysia's and Southeast Asian's economies.
      This is provided we build up an Asean-ship that is integrated,
      cohesive and strong."

      And one way to achieve this is through bilateral cooperation within
      Asean.

      For example, cross border investments between Singapore and Malaysia
      have grown in the past two years.

      Malaysian companies have acquired or bought into Singapore firms.

      There is also considerable Singapore interest in Malaysian industries
      such as telecommunications, banking and property.

      Mr Najib also welcomed Singapore's participation in the newly
      launched south Johor economic region.

      He said he hopes that Malaysian casino operator Genting will be given
      a chance to develop one of Singapore's two integrated resorts.

      He said: "Like the rambutan tree that overgrows into your neighbour's
      lawn, investing in each other's future would ensure the fruits of our
      labour would be enjoyed by present and future generations of both
      countries."

      But experts say that keeping the ball rolling may be easier said than
      done.

      Said London Business School's Professor John Stopford: "It's likely
      to be two steps forward and one back. There's a long way to go to
      overcome mutual suspicion. That's clear."

      Nevertheless, faced with a common threat and the dire global economic
      environment, analysts say both countries will have to work closer
      together and leave their political baggage behind. - CNA/ir
    Your message has been successfully submitted and would be delivered to recipients shortly.