JOHOR BAHRU: The Johor-Singapore Special Economic Zone (JS-SEZ) is set to enhance the efficiency and resilience of the ASEAN supply chain, said Minister of Investment, Trade and Industry, Tengku Datuk Seri Zafrul Abdul Aziz.
He added that the proposed establishment of a Regional Comprehensive Economic Partnership (RCEP) ASEAN Industrial Park within the JS-SEZ will further improve regional economic integration and attract high-value investments.
He believes the creation of this industrial park aligns with aspirations to boost supply chain efficiency and resilience.
“We want the JS-SEZ to be more than just a bilateral framework — it is a value proposition for the whole of ASEAN,” he said during his keynote address at the Johor-Singapore Special Economic Zone (JS-SEZ) Business and Investment Forum held here today.
Also present were Johor Menteri Besar Datuk Onn Hafiz Ghazi and Singapore’s Deputy Prime Minister and Minister for Trade and Industry, Gan Kim Yong.
The two-day event, themed “JS-SEZ: Connecting Economies, Strengthening Supply Chains”, was organized by Malaysia’s Ministry of Investment, Trade and Industry (MITI) in collaboration with Singapore’s Ministry of Trade and Industry and the Johor state government.
Tengku Zafrul said the Federal Government also supports the proposed regulatory sandbox initiative, which will be located at Ibrahim Technopolis (IBTEC) and Ladang Air Manis in Kulai.
He noted that the initiative will play a crucial role in leveraging the new wave of sustainable, high-value investments that benefit both local stakeholders and international partners.
On Malaysia-Singapore ties, he emphasized that the heartbeat of the relationship lies in their strong cooperation.
“Malaysia is Singapore’s second-largest trading partner, while Singapore remains Malaysia’s top export destination and second-largest trading partner globally in 2024.
“Our total trade in 2024 amounted to USD86.69 billion (USD1 = RM4.41), driven by electrical and electronics products, petroleum products, machinery, equipment and spare parts, agriculture, optics and scientific equipment,” he said.
Tariff Diplomacy
Tengku Zafrul reaffirmed Malaysia’s full commitment to finding solutions that preserve market access and vital supply chains, encourage continued foreign investment, and support the well-being of workers and businesses.
He stressed that along with other ASEAN partners, Malaysia will not impose retaliatory tariffs against the United States (US).
“From ASEAN’s perspective, retaliatory measures are counterproductive. Instead, the region seeks constructive dialogue with the US through a progressive approach to strengthen economic ties and address shared challenges,” he stated.
For Malaysia, he said, the government recognizes the challenges these tariffs pose to workers, manufacturers, and businesses.
“We must and will seek mutually acceptable, fair, and equitable solutions to this issue — whether through bilateral or multilateral channels,” he added.
— BERNAMA
