Press Trust of India | 10 September 2008
Malaysia hopeful to conclude CECA with India this year
KOLKATA: Malaysia has expressed hope that the Comprehensive Economic Cooperation Agreement with India will be concluded this year.
“On the bilateral front, both Malaysia and India had started negotiations for a CECA...We are hopeful to conclude the agreement this year,” said the High Commissioner of Malaysia in India Dato’ Tan Seng Sung.
Two rounds of negotiations had already been concluded, he said adding the third round had been scheduled to take place in Kuala Lumpur from October 13 to 15 this year.
He said there was a huge potential for trade in goods such as processed food, oleo-chemical and medicines. On trade in services, the Malaysian envoy said that the areas included medical, healthcare and diagnostics, computers, IT and telecommunications, f inancial, tourism and travel.
In 2007, bilateral trade between the two countries touched $7.88 billion - an increase of 22.2 per cent from 2006.
Within the ASEAN region, Malaysia is India’s fourth largest trading destination, he said.