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Malaysia And Singapore Sign Digital And Green Economy Agreements

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SINGAPORE (Reuters) – Singapore and Malaysia have agreed to expand bilateral cooperation, seize opportunities in the digital and green economies, and collaborate closely on data protection and cyber security.

On Monday, Prime Minister Lee Hsien Loong and Malaysian Prime Minister Anwar Ibrahim witnessed the signing of three agreements covering these fields, during Datuk Seri Anwar’s first official visit to the Republic since being sworn in as Malaysia’s 10th PM on November 24.

The Ministry of Trade and Industry and Malaysia’s Ministry of International Trade and Industry signed two agreements to collaborate in the digital and green economies.

The partnership, Malaysia’s first with any country, is expected to strengthen collaboration to decarbonize both countries’ industries and assist businesses and workers in seizing opportunities in the green economy.

The agreements will see the two neighbours deepen their cooperation in areas such as standard setting and the deployment of charging points for electric vehicles, as well as jointly exploring projects in low-carbon solutions, specifically hydrogen and carbon capture, utilisation, and storage.

The two parties will also exchange information on carbon markets, consider collaboration between their companies in carbon credit projects, and consider developing new and renewable energy-related technology standards to support domestic and regional decarbonization.

The digital economy cooperation framework will seek to go beyond what is outlined in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership, both of which Singapore and Malaysia are signatories.

The agreement also aims to promote greater Asean digital economy cooperation.

It will cover topics like trade facilitation, cross-border data flows, electronic payments, digital identities (including efforts to support the development of the Asean Unique Business Identification Number), and supporting the digitalization of industries and small businesses to boost their competitiveness.

The third agreement is a memorandum of understanding between Singapore’s Ministry of Communications and Information (MCI) and Malaysia’s Ministry of Communications and Digital on cooperation in the fields of personal data protection, cyber security, and digital economy.

It will make it easier to share knowledge, expertise, and best practises in areas such as data protection policies, cross-border data flows, addressing common cyber security threats, and emerging technologies such as artificial intelligence and distributed ledger technology.

Gan Kim Yong, Malaysia’s Minister of International Trade and Industry, and Malaysia’s Minister of Trade and Industry, Tengku Zafrul Aziz, signed two frameworks of cooperation for the digital and green economies.

The third agreement was signed by Josephine Teo, Minister of Communications and Information, and Fahmi Fadzil, Malaysia’s Minister of Communications and Digital.

Following an official welcome ceremony at the Istana, Prime Minister Anwar met with President Halimah Yacob. He then met with Prime Minister Lee Hsien Loong, who hosted an official lunch in his honour as well.

PM Anwar and his wife, Dr Wan Azizah Wan Ismail, had an orchid hybrid named after them this morning.

Dendrobium Anwar Azizah produces semi-arching sprays about 45cm long with 20 to 28 well-arranged flowers. The sepals have a mauve background with purple striations, and the petals are velvet purple with a broad and vivid violet lip.

Mr Anwar is accompanied by Transport Minister Anthony Loke, International Trade and Industry Minister Tengku Zafrul Aziz, Foreign Affairs Minister Zambry Abdul Kadir, Communications and Digital Minister Fahmi Fadzil, Sarawak Premier Abang Haji Abdul Rahman Zohari, and Johor Menteri Besar Onn Hafiz Ghazi.

He will meet with the Malaysian community in Singapore before departing on Monday evening.

Info source – AsiaOne

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