Malaysia and Singapore today inked the long-awaited agreement on the Kuala Lumpur-Singapore High Speed Rail (HSR) project.
Prime Minister Najib Razak and Singapore Prime Minister Lee Hsien Loong witnessed the signing of the 350-km landmark project agreement, that is set to have a huge potential in boosting connectivity between the two nations.
The signing took place at the 7th Msia-Singapore Leaders Retreat, held here today.
Malaysia was represented by Minister in the Prime Minister’s Department Abdul Rahman Dahlan, and Singapore by its Coordinating Minister for Infrastructure and Minister for Transport Khaw Boon Wan.
Apart from reducing travel time between the countries to just 90 minutes, the spillover effects from the project also include enhancing business ties and improving people-to-people relations.
Earlier the two leaders had a four-eyed meeting followed by a delegation meeting where both sides deliberated on bilateral issues of mutual concern and reviewed progress of existing bilateral cooperation and building on the momentum of discussion held and initiatives agreed during the 2015 Leaders’ Retreat.
The Annual Leaders’ Retreat is an annual event hosted rotationally between Malaysia and Singapore.
The inaugural Leaders’ Retreat was held in May 2007 in Langkawi, Malaysia, and has since been a forum for both countries to further strengthen bilateral relations between the two countries.
In 2015, Singapore was Malaysia’s second largest trading partner globally.
Last year, total trade between the two countries was recorded at US$59.5 billion (RM190.6 billion).