MUMBAI, 12 SEPTEMBER, 2010: Indian Prime Minister Manmohan Singh, who will undertake a three-nation tour of Vietnam, Japan and Malaysia in October, is keen to boost ties with Malaysia where he will explore possibilities of intensifying cooperation in areas such as trade, business, science and technology.
Malaysia’s high commissioner to India, Datuk Tan Seng Sung told Bernama in New Delhi that Malaysia had set an “ambitious goal” of achieving a trade volume target of US$50 billion with India by 2015.
Two-way trade between India and Malaysia touched US$7.3 billion in 2009, though the Matrade office in Mumbai expects it to rise as the economic recovery gains steam.Both sides are working on finalising a free trade agreement (FTA) which will open the gate for unfettered trade between them.In recent remarks, India’s commerce secretary Rahul Khullar expressed confidence that India could sign FTAs with Japan and Malaysia by the year end.Malaysia has identified the huge business potential, particularly, inherent in India’s infrastructure needs.
Scomi’s monorail project in Mumbai is one such prestigious project bagged by Malaysia.Another housing project for low-income Indians holds out the promise of good business for Malaysian construction companies.In recognition of the importance of the Indian market, Malaysia’s International Trade and Industry Minister Datuk Seri Mustapa Mohamed will pay a third visit to India this year, covering Delhi, Mumbai, Pune and Hyderabad in November.
Source : Bernama
No comments:
Post a Comment