Malaysia, Singapore seek ventures abroad

KUALA LUMPUR, Malaysia, May 25 (UPI) -- Malaysia and Singapore announced Tuesday they will pool $4.6 million to help businessmen from both countries scout for new ventures abroad.

The Straits Times said Singapore's Trade and Industry Minister George Yeo and his Malaysian counterpart, Datuk Seri Rafidah Aziz, met in Kualoa Lumpur. They said in an increasingly competitive world, both countries will profit by joining forces to find new opportunities in other countries.

"If business is politically driven, we will all lose out," said rafidah. "Whatever it is, Malaysia and Singapore will not come to a point of war with each other. The world is getting competitive and we must go out there and do business together."

The ministers spoke during a meeting attended by 150 business people.