Malaysia-India economic cooperation moves to next level
Malaysia and India will increase trade and investment cooperation with the signing of the CECA free trade agreement, to come into effect on 1 July 2011.
CECA, or the Comprehensive Economic Cooperation Agreement, should help the two countries meet a trade target of RM 46.5 billion (US$15 billion) by 2015, with infrastructure projects and investment flows playing a large part in the new environment. Indian Prime Minister Manmohan Singh, who is visiting Malaysia this week, says inadequate infrastructure in his country is a constraint on economic development and welcomes Malaysia’s expertise in building and road construction. Other useful targets for CECA-related activities will be the capital market, energy including oil, gas and renewables, and information/communications technology.
Both India and Malaysia have much to offer each other: Malaysia will gain access to India’s enormous market and India can use Malaysia as a gateway to other Asean nations. India is also negotiating a separate regional treaty; the Asean-India Trade in Goods Agreement.
source & article: The Edge Malaysia
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