KUALA LUMPUR (Aug 30): Singapore on Friday said it will continue to work closely with Malaysia "to bring about mutual benefits to our countries and peoples" through a full-fledged agreement on the Johor-Singapore Special Economic Zone (JS-SEZ).
"Both Singapore and Malaysia view the JS-SEZ as a win-win initiative that benefits businesses and communities from both countries," the republic's trade and industry ministry said in a statement issued at the end of a three-day meeting in Johor between officials from the two countries to advance discussions on the special economic zone.
On Thursday, Johor Menteri Besar Datuk Onn Hafiz Ghazi addressed concerns of a delay to the signing of the final agreement, saying details and incentives are still being fine-tuned. "Hopefully it can be signed by November," he said.
Previously, Economy Minister Rafizi Ramli had said that negotiations for the JS-SEZ were in their final stages, with a joint agreement expected to be signed in September this year.
According to the Singapore trade ministry's statement, the just-concluded meeting in Johor discussed various issues including economic sectors, movement of people and goods, ease of doing business, and talent development, "with the view to strengthen the business ecosystem within the region and improve cross-border flows of goods and people between Singapore and Johor".
It also said that both sides will work towards the 11th Malaysia-Singapore leaders’ retreat later this year.
The JS-SEZ, which is designated to attract investment and free up the movement of goods and people between the two countries, was formally unveiled in October 2023 during Prime Minister Datuk Seri Anwar Ibrahim’s visit to Singapore for the 10th leaders’ retreat.
The project is expected to encompass Iskandar Malaysia and Pengerang, covering 3,505 square kilometres in southern Johor — an area more than four times the size of Singapore.
In January this year, the governments of Singapore and Johor signed a memorandum of understanding on the special free trade zone.
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