Trade between Malaysia, India set to boost further: Minister

Jaishree Balasubramanian

Kuala Lumpur, May 30 (PTI) Malaysia Saturday said that
current economic downturn has not affected bilateral trade
between New Delhi and Kuala Lumpur and both the countries
expect an increase in trade growth in comparison to last year.

Domestic Trade and Consumer Affairs Minister Ismail Sabri
Yaakob said that in the first half of the year, trade between
the two countries stood at 5.2 billion ringgit (1 ringgit = 13
rupees) compared with 8.1 billion ringgit seen the whole of
last year.

"We can expect an increase in bilateral trade between
Malaysia and India despite economic crisis. We can probably
achieve a total of 10 billion ringgit to 11 billion ringgit in
bilateral trade," he told reporters after launching the
seventh 'Global Indian Festival 2009' at the sprawling
Megamall complex here Saturday.

Indian High Commissioner to Malaysia Ashok K Kantha who
attended the opening said the new Indian cabinet looked
forward to reinforcing ties with South East Asia and has
placed an emphasis on economic recovery and greater
India-Malaysia trade.

The festival has attracted several companies from India
who will display their merchandise at the festival which draws
a large crowd every year.

Ismail said "a recently concluded joint study has
indicated that the two countries could catapult bilateral
trade to 16 billion ringgit by 2012." PTI