ID :
127360
Fri, 06/11/2010 - 17:17
Auther :

MALAYSIA & INDIA TO SEAL ECONOMIC COOPERATION AGREEMENT BY YEAR-END




KUALA LUMPUR, June 11 (Bernama) -- The Malaysia-India Comprehensive
Economic Cooperation Agreement (CECA) will be concluded this year, said Deputy
Minister of International Trade and Industry, Jacob Dungau Sagan.

"With the signing of the CECA, Malaysia and India will embark on an
extensive liberalisation of services and investments.

"Both areas are not covered under the present Asean-India Free Trade
Agreement (FTA)," he said.

Speaking at the Business Conference on Emerging Opportunities for
India-Malaysia Business Engagement here Friday, he highlighted that the
agreement is expected to further enhance bilateral and trade ties between both
countries.

He was representing the Minister of International Trade and Industry,
Mustapa Mohamed.

Jacob said among the areas that Malaysia and India's business community
should leverage on is the services sector, including health and tourism.

"There is much we can do to increase our trade in manufacturing and other
high value added goods," he explained.

He also pointed out that the services sector, earmarked as Malaysia's engine
of growth, accounted for 57.4 percent of the gross domestic product (GDP).

Meanwhile, the ministry's Deputy Secretary General for Trade, Dr
Rebecca Fatima Sta Maria said, representatives of both parties will meet at the
end of June for another round of negotations.

"We hope to conclude negotiations by September 2010," she added.

She also stated that both countries want to make the respective investment
regimes more predictable.

The CECA is expected to be the highlight of Indian Prime Minister
Manmohan Singh's official visit to Malaysia later this year.
-- BERNAMA


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