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

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The Malaysian foreign minister said that in the event that Malaysia and Singapore are unable to settle the issue, international arbitration would be the last resort

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.

 

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