KUALA LUMPUR, Oct. 2 (Xinhua) -- Malaysia and Singapore are set to deepen cooperation in a number of trade and economic sectors, while further strengthening supply chain resilience to face potential disruptions, officials from both sides said on Thursday.
They also endorsed the Malaysia-Singapore Supply Chain Cooperation Workgroup to launch a new bilateral mechanism to strengthen preparedness for future supply chain disruptions, Malaysia's Ministry of Investment, Trade, and Industry and Singapore's Ministry of Energy, Trade and Industry said in a joint statement following the Third Annual Ministerial Dialogue in Kuala Lumpur.
The mechanism will facilitate regular information-sharing and joint planning, strengthen crisis coordination and explore practical arrangements to maintain cross-border flows during severe connectivity or supply disruptions, they said.
The new mechanism reflected their shared commitment to strengthening supply chain resilience amid an increasingly complex global economic environment, they said. ■