The bilateral Free Trade Agreement between India and Malaysia, which had been lying in the back burner for a while now, will receive the vital push during the Malaysian PM’s visit, to take it forward to a successful conclusion. Malaysian Prime Minister Najib Tun Abdul Razak is in New Delhi on a five-day visit to India from 19 Jan.
Najib called on the Indian investors to venture into the Malaysian capital market, which is Asia’s third largest and worth around RM 600 billion. “The other sector worthy of your attention is the Malaysian capital market, in particular its fund-raising capability. Our capital market is broad-based and our regulatory infrastructure meets international standards,” he said on Wednesday while addressing a gathering of Indian businesspersons at the Malaysia-India Business Forum held in New Delhi.
One of the advantages pointed out by Najib is Malaysia’s investor protection framework, which has received consistent top-four rating from the World Bank.
“India is promising, the future between both countries is enormous but the bilateral relations have not been fully tapped. It makes sense for us to look to India as key source for bioscience, ICT (information and communications technology) and education,” he said.
The ‘high-powered’ Indian economy and growing Malaysian economy, he said, could be strategic partners in developing better trade volume than the current $10 billion.
During this visit, Premier Najib is expected to sign around 13 MoUs with India for various projects undertaken by private sector.
Malaysia will utilize this opportunity to exchange views and arrive at a better understanding on bilateral issues. Najib is planning to extent an invitation to Indian Prime Minister to visit Malaysia.
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