ID :
131905
Thu, 07/08/2010 - 07:05
Auther :
Shortlink :
https://oananews.org//node/131905
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AIFTA SERVICES & INVESTMENT AGREEMENTS TO BE CONCLUDED IN NEXT FEW MONTHS
KUALA LUMPUR, July 7 (Bernama) -- The Asean-India Free Trade Agreement
(AIFTA) Services and Investment Agreements is expected to be concluded in the
next few months, in time with the Asian Summit later this year, says the
Ministry of International Trade and Industry (MITI).
"We are confident that negotiations on the services and investment
agreements can be concluded this year," said MITI Minister, Mustapa Mohamed here
Wednesday.
Mustapa hosted a bilateral meeting with his Indian counterpart, Minister of
Commerce and Industry of India, Shri Anand Sharma, Wednesday, in conjunction
with the latter's official visit to Kuala Lumpur.
The AIFTA negotiations, follows the successful implementation of the AIFTA
Trade in Goods Agreement on Jan 1, 2010.
Mustapa said during the meeting both parties exchanged views on key issues
raised on the on-going negotiations of AIFTA Services and Investment Agreements.
He also highlighted that Malaysia has identified a group of Malaysian Chief
Executive Officers, who would partipate in the Malaysia-India CEO Forum,
expected to be launched in conjunction with the Indian Prime Minister's visit to
Malaysia in early November.
The forum aims to enhance interaction between chief executives of private
sectors of both countries, increase confidence among prominent business and
provide the platform for business people to dialogue with governments.
On the Comprehensive Economic Cooperation Agreement (CECA), he said "so far
five rounds of negotiations have taken place and we have dealt further today.
"There are number of issues remaining on the table and we hope to conclude
soon, hopefully by September," Mustapa said.
India expects trade with Malaysia to jump 50 per cent to US$15 billion
(RM48.3 billion) by 2015 with a free trade pact in place.
"Hopefully, the trade is achieved earlier than that given the increased
trade and investment activities for both countries," Sharma said.
"We remain very optimistic and sensitive to the expectations and
opportunities that lie ahead," Sharma said.
India's FDI in May 2010 rose 5.6 per cent to US$2.21 billion compared with
US$2.09 billion in the corresponding month of 2009.
Malaysia's total trade with India amounted to US$2.79 billion during the
January to April 2010 period, an improvement of 8.27 per cent compared with the
corresponding period in 2009.
-- BERNAMA
(AIFTA) Services and Investment Agreements is expected to be concluded in the
next few months, in time with the Asian Summit later this year, says the
Ministry of International Trade and Industry (MITI).
"We are confident that negotiations on the services and investment
agreements can be concluded this year," said MITI Minister, Mustapa Mohamed here
Wednesday.
Mustapa hosted a bilateral meeting with his Indian counterpart, Minister of
Commerce and Industry of India, Shri Anand Sharma, Wednesday, in conjunction
with the latter's official visit to Kuala Lumpur.
The AIFTA negotiations, follows the successful implementation of the AIFTA
Trade in Goods Agreement on Jan 1, 2010.
Mustapa said during the meeting both parties exchanged views on key issues
raised on the on-going negotiations of AIFTA Services and Investment Agreements.
He also highlighted that Malaysia has identified a group of Malaysian Chief
Executive Officers, who would partipate in the Malaysia-India CEO Forum,
expected to be launched in conjunction with the Indian Prime Minister's visit to
Malaysia in early November.
The forum aims to enhance interaction between chief executives of private
sectors of both countries, increase confidence among prominent business and
provide the platform for business people to dialogue with governments.
On the Comprehensive Economic Cooperation Agreement (CECA), he said "so far
five rounds of negotiations have taken place and we have dealt further today.
"There are number of issues remaining on the table and we hope to conclude
soon, hopefully by September," Mustapa said.
India expects trade with Malaysia to jump 50 per cent to US$15 billion
(RM48.3 billion) by 2015 with a free trade pact in place.
"Hopefully, the trade is achieved earlier than that given the increased
trade and investment activities for both countries," Sharma said.
"We remain very optimistic and sensitive to the expectations and
opportunities that lie ahead," Sharma said.
India's FDI in May 2010 rose 5.6 per cent to US$2.21 billion compared with
US$2.09 billion in the corresponding month of 2009.
Malaysia's total trade with India amounted to US$2.79 billion during the
January to April 2010 period, an improvement of 8.27 per cent compared with the
corresponding period in 2009.
-- BERNAMA
