PM: Malaysia-India Trade To Double By 2015

KUALA LUMPUR, Nov 18 – Trade between Malaysia and India is expected to double by 2015 as a result of many landmark agreements signed between the two countries.

Prime Minister Datuk Seri Najib Tun Razak said among them were the Comprehensive Economic Cooperation Agreement, multiple memoranda of understanding in the fields of tourism, information technology and services, traditional medicine as well as in research and development collaboration.

“These are significant milestones that will feature prominently increasing trade and investment flows between Malaysia and India.

“We are confident the country-to-country relationship will manifest itself more intensely and significantly as the many initiatives start to take form and generate results,” he said in his speech at the TiE Asia-Pacific Conference 2010 here today.

Najib said Malaysian government had embarked on measures to provide unique opportunities for businesses to access financial and capital markets as the government realised that for entrepreneurs to be successful, adequate access to finance and capital was essential.

In this regard, he said, Bursa Malaysia was working with The Indus Entrepreneurs (TiE) to encourage Indian and non-resident Indian businesses to take advantage of the opportunities Malaysian capital markets had to offer.

He said the Securities Commission and the Stock Exchange Board of India had signed an agreement paving the way for improved opportunities in cross-border capital market activities.

Najib urged foreign entrepreneurs to explore opportunities in the country’s highly-developed Islamic banking and financial services industry.

“We can confidently say our financial institutions have more than adequate capacity to support entrepreneurs in their business endeavours,” he said.

Lagi Berita