ACCCIM and Singapore counterpart ink MoU to strengthen economic and trade ties between 2 nations

THE Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) and its Singapore counterpart have inked a memorandum of understanding (MoU) recently to strengthen collaboration to enhance economic relations and trade ties between both countries.

ACCCIM and the Singapore Chinese Chamber of Commerce and Industry (SCCCI) will collaborate in the areas of energy, sustainability, food security and resource sectors to strengthen the resilience of their economies.

They will also mutually assist their members to venture into the Asean markets, a statement said.

The agreement was signed concurrent with the Prime Minister Datuk Seri Anwar Ibrahim’s official visit to Singapore. The signing was witnessed by Minister of International Trade and Industry Tengku Datuk Seri Zafrul Tengku Abdul Aziz and Singapore Trade and Industry Minister Gan Kim Yong.

At the signing ceremony, ACCCIM president Tan Sri Low Kian Chuan said that the MoU is imperative as it continues to establish a vital foundation for business leaders of both sides working towards win-win results through mutually beneficial cooperation, so as to bring the bilateral relations to new heights.

He added that this is the third MoU signed between ACCCIM and SCCCI.

The MoU paves the way for broadening the scope of collaboration, enhanced information sharing and initiatives to facilitate business activities between members.

“The implementation of the Regional Comprehensive Economic Partnership (RCEP) and Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP) present opportunities for both sides to jointly explore new areas of collaboration by leveraging each other’s comparative and competitive strengths within Asean market and in broader region,” he said.

SCCCI president Kho Choon Keng said it is timely for the two chambers, after years of strong and close friendship and trust, to upgrade their partnership and cooperation.

This would enable them to play a greater role in enhancing economic relations and friendship between the two neighbours. —  TMR