Nirmala Sitharaman, Commerce and Industry Minister, expressed the Indian Governments’ intention of keeping up the bilateral trade ties with Malaysia.
NEW DELHI: The Malaysian Prime Minister Mohammad Najib Tun Abdul Razak, exhorted the business community to impress upon the negotiators of Regional Comprehensive Economic Partnership (RCEP) to conclude the agreement by this year-end or early next year.
He expressed concerns over the downward slope of the India-Malaysia trade graph. Assuring all possible support for the Indian investors, the Prime Minister said “As the Prime Minister of Malaysia, I am here to reiterate our commitment to ensure that the needs of investor doing business in Malaysia are met. We will continue to provide all the necessary support for a thriving business environment and a competitive dynamic economy”.
He was addressing the India Malaysia Business Forum’ organised jointly by industry chambers FICCI, ASSOCHAM and CII along with the Malaysian Investment Development Authority. This year marks the 6th year Anniversary of Malaysia India bilateral trade relation.
“At a time when the Indian Government has committed almost 1 trillion USD towards spending on promotion of Infrastructure in India, we are engaging with Malaysia which has proven as the Infrastructure provider to the entire world”.
Further, Sitharaman said that India was looking forward to Razak’s guidance on RCEP negotiations. “We have a great ongoing engagement with Malaysia on RCEP negotiations, in a world where TPP has collapsed and plurilateral agreements are in retreat,” Sitharaman said. To which the Malaysian Prime Minister responded. “With the Trans-Pacific Partnership (TPP) being omitted by the US, negotiations for the Regional Comprehensive Economic Partnership (RCEP) agreement should be concluded latest by early 2018” said the Prime Minister.