India-Malaysia trade to reach $15 bn by 2015

India-Malaysia trade to reach $15 bn by 2015 said His Excellence Mr. Shah Nizam Ahmed, Consul (Trade), Consulate General of Malaysia.

The FAPCCI in association with Consulate General of Malaysia, Chennai organized a round table meeting with His Excellence Mr. Shah Nizam Ahmed, Consul (Trade), Consulate General of Malaysia.

Mr. Shah Nizam Ahmed said to the participants that the Malaysia and India already has concrete trade relations through Comprehensive Economic Cooperation Agreement (CECA). Now, Malaysia wants to develop direct trade with India and other Asian countries. India is Malaysia’s largest trading partner among countries of the South, excluding ASEAN and
China. Similarly, Malaysia has emerged as India’s second largest trading partner in the ASEAN after Singapore.

Malaysia and India have set a bilateral trade target of US$15 billion by 2015. The CECA inked, is a free trade agreement which covers trade in goods and services and investment as well as economic cooperation.

Mr. V.S. Raju said that the India was Malaysia’s 13th largest trading partner in 2010 with exports amounting to US$6.5 billion and imports valued at US$2.4 billion.

Mr. Abu Bakar Koyakutty, Director, Oil & Gas and Chemical Trade and Services Promotion Division, Malaysian External Trade Development Corporation, Malaysia, Mr. Shyam Sunder Pasari, Chairman, International Committee, FAPCCI, Mr. Hari Haran, Co-Chairman, International Trade Committee, FAPCCI, Mr. M.V. Rajeshwara Rao, Secretary General, FAPCCI, Mr. A.S. Kumar, Deputy Secretary General, FAPCCI have participated at the round table.