Malaysian Foreign Minister: Water sold to Singapore must match market rate

should aim for an equitable result for both parties. Moreover, he emphasized that the price of water needs to match the market rate.“It’s not a question of who wins and who profits more, but let this be fair. Meaning, the price must match the market rate.”

“In the event we make no progress, then the possibility of arbitration arises. But we are not there yet.” Dr Mahathir discussed this with Singaporean Prime Minister Lee Hsien Loong at the leaders’ summit in Putrajaya on April 8-9. The position of both countries under the 1962 Water Agreement was noted at the summit, and the Attorneys-General of both countries will be meeting to discuss the water issue.The binding water agreement between Singapore and Malaysia is the 1962 Johor River Water Agreement that is valid until 2061.

Goh had been referring to the Independence of Singapore Agreement signed between Singapore and Malaysia on August 9, 1965. This guaranteed the water agreements from 1961 and 1962, and registered it with the United Nations., “Well, international agreements have been broken before. I have seen people go to war, even which is not by agreement.”, “The 1961 and 1962 Water Agreements are … fundamental to our very existence as an independent nation.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Becoming less reliant on foreign manpower: Why is it so hard for Singapore’s F&B industry?SINGAPORE: Over the past six years of running his own food and beverage (F&B) business, Foo Choo Kiat has had to double up as chef, cleaner and ... who's fault ? LOL ..... Flawed policy! Is our highly educated workforce taking up these positions? If so, how much more will goods and services cost in the future? Or let lower skilled migrants fill these positions and maintain the required service standards and quality of life!
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Financial market 'pause party' makes Fed rate cut less likelyRisk-taking has been the rage since the Federal Reserve quit hiking interest rates at the end of last year. U.S. stocks are back near record highs ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Singapore shares slip 0.1% on Tuesday amid lack of market cuesTHE Straits Times Index (STI) closed at 3,353.47, down 4.23 points or 0.13 per cent. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Shilin Singapore opens, offering an experience inspired by Taiwan’s famous night marketThere’s Devil Chicken Chop fried chicken, MilkShop bubble tea, carnival games, music, shopping and more. Reading this makes me hungry 😂😋
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »