SBF plays a central role in Asean economic integration.
SINGAPORE: Malaysia and Singapore share one of the most dynamic and mutually reinforcing economic relationships in Asean, particularly among small and medium enterprises (SMEs), which form the backbone of both economies, says the Singapore Business Federation (SBF).
Its chief executive officer, Kok Ping Soon, said bilateral trade remains resilient and continues to deepen in sectors such as advanced manufacturing, logistics and supply chain, digital services, green and sustainable solutions and consumer products.
“At the Asean Summit held in Kuala Lumpur on Oct 26, 2025, regional economic leaders underscored the importance of strengthening economic connectivity within Asean to enhance supply chain resilience and support new growth sectors.
“Through initiatives like the Johor-Singapore Special Economic Zone (JS-SEZ), SBF works closely with partners including the Federation of Malaysian Manufacturers and Invest Johor, as well as Singapore’s Joint JS-SEZ Project Office to enhance cross-border trade facilitation and scale SMEs internationally,” he told Bernama.
Kok said that as Singapore’s apex business chamber, SBF serves as a nexus between businesses and governments, facilitating discussions and providing recommendations to strengthen bilateral business collaboration.
“This aligns with the themes raised at the Asean Summit, which called for deeper intra-Asean economic integration and stronger SME participation in resilient regional value chains,” he added.
Meanwhile, he said beyond deepening Malaysia-Singapore trade ties and promoting regional resilience, SBF plays a central role in Asean economic integration.
“It advocates for lower non-tariff barriers, leveraging frameworks like Regional Comprehensive Economic Partnership, and convenes the annual Asean Conference to shape dialogue on competitiveness, sustainability, and digitalisation.
“Through partnerships with financial, legal, and advisory institutions, SBF helps SMEs expand into markets such as Malaysia, particularly in the digital, green, and advanced manufacturing sectors,” he said.
SBF also champions resilience strategies such as supply chain diversification, digitalisation, and the green transition, enabling Asean SMEs to integrate into regional value chains and withstand global uncertainties.
Looking ahead, Kok said Malaysia-Singapore SME trade in 2026 is expected to post moderate but resilient growth, supported by the JS-SEZ, digital economy frameworks, and green transition initiatives, alongside Asean-level agreements like the Digital Economy Framework Agreement or Defa and the upgraded Asean Trade In Goods Agreement or Atiga.
“SMEs in advanced manufacturing, digital services, green solutions and food/agritech are best positioned to benefit from these developments, reinforcing trade resilience and deepening cross-border integration,” he added.
