INDIAN PM'S VISIT TO MALAYSIA TO BOLSTER BILATERAL TIES

By Manik Mehta

MUMBAI, Sept 13 (Bernama) -- 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, 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 Mustapa Mohamed will pay a
third visit to India this year, covering Delhi, Mumbai, Pune and Hyderabad in
November.

-- BERNAMA




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