ASIATODAY.ID, BALI – Three countries in Southeast Asia, namely Indonesia, Singapore and Malaysia, have initiated cooperation in navigation safety and marine protection in the Straits of Malacca and Singapore. The discussion was held at the 15th meeting of the Co-operation Forum, Monday-Tuesday, 21-22 October 2024 in Bali.
Navigational security on this route is said to play a role in world trade. This pathway is also sensitive to geopolitical conditions that cause global supply chain disruptions.
Director of Navigation at the Indonesian Ministry of Transportation, Budi Mantoro, explained that the Malacca and Singapore Straits are one of the most important and strategic shipping lanes in the world. This route also functions to connect Asia with the Middle East, Europe and Africa.
The three countries Malaysia, Indonesia and Singapore work together to maintain freedom of navigation and shipping safety on the two shipping lanes.
“Around 35% of international ships pass through these waters, carrying a third of global trade commodities, which makes the Strait of Malacca a vital artery connecting the economy of this region with the rest of the world,” said Budi at the Opening of the 15th Co-operation Forum in Bali, Monday, October 21, 2024.
Budi explained that the volume of traffic passing through this strait increases every year, with around 130,000 ships using this route every year.
According to the World Economic Forum, the Strait of Malacca is expected to exceed its capacity by the end of this decade due to increasing shipping traffic. Additionally, blockages and accidents in the Strait could cause major disruptions with significant impacts on global supply chains.
Likewise, Deputy Chief Executive of MPA Singapore, M. Segar, said that the Straits of Malacca and Singapore must receive special attention, especially in light of geopolitical tensions and supply chain disruptions.
“Any disruption that occurs along this route will have a far-reaching impact on global supply chains,” he added.
For your information, the Cooperation Forum is an annual meeting held under a cooperative mechanism framework, which is alternately held by three coastal countries, namely Indonesia, Malaysia and Singapore in alphabetical order.
This forum has an important role because it is a meeting place for echelon I level officials from the three countries, together with strait user countries, associations and other international organizations. (AT Network)
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