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Growth Triangle

The Growth Triangle is a concept of mutual cooperation in economic development among three Asean countries, Indonesia, Malaysia and Singapore, focussing on the Riau Province in Indonesia and southern Johor in Malaysia. The Singapore-Johor-Riau (SIJORI) Growth Triangle was first mooted in December 1989 by Mr Goh Chok Tong, then the First Deputy Prime Minister of Singapore.

The objective was to strengthen the economic links in the region and to optimise the complementarity between the three adjacent areas. The pact would combine the management expertise, rich capital, technology and infrastructure of Singapore with the abundant labour, land and natural resources of neighbouring Johor State in Malaysia and the Riau Provice in Indonesia.

As more states from Malaysia and Indonesia joined the grouping, SIJORI was renamed Indonesia-Malaysia-Singapore Growth Triangle (IMS-GT). The grouping was formalised with the signing of a Memorandum of Understanding (MOU) on 17 December 1994 by representatives of the participating countries; Singapore's Deputy Prime Minister Brigadier-General (NS) Lee Hsien Loong, Malaysia' s International Trade and Industry Minister Datuk Seri Rafidah Aziz and Indonesia's Coordinating Minister for Trade and Industy Hartono.

Although exclusive to the participating countries, the Growth Triangle was seen to benefit the ASEAN region as a whole, and neither was it intended to block the participating countries from entering into other forms of economic cooperation. The Growth Triangle was considered one vehicle to accelerate the target for achieving free trade in ASEAN by 2003.


Author
Nor-Afidah



References    
Murray, G., & Perera, A. (1995). Singapore: The global-city state (pp. 33-68). Kent: China Library.
(Call no.: RCLOS 959.57 MUR-[HIS])

Economic slowdown affects progress of IMS Growth Triangle. (1998, July 21). Assembly-Johor (Bernama). 

BG Lee: Growth triangles will benefit Asean region. (1994, December 18). The Straits Times, p. 1. 

Jacob, P. (1996, March). Growth Triangle 'no guarantee of region's success'. The Straits Times, News Focus, p. 3. 

Malaysia Business Council. (n.d.). Indonesia-Malaysia-Singapore Growth Triangle. Retrieved February 17, 2002, from 
www.ims-gt.com/

The information in this article is valid as at 2002 and correct as far as we are able to ascertain from our sources. It is not intended to be an exhaustive or complete history of the subject. Please contact the Library for further reading materials on the topic.

Subject
Commerce and Industry
Commerce and Industry>>Trade
Growth triangles--Singapore
Economic development--Singapore
Singapore--Foreign relations
Business, finance and industry>>Economics>>International trade and economics>>Economic cooperation
Law and government>>Trade (Commerce)>>Trade agreements



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