Malaysia to push for India-ASEAN FTA
Press Trust India | Sept 20, 2004
Malaysia to push for India-ASEAN FTA, seeks Indian investments
New Delhi, Sep 20 (PTI) Malaysia today said it was leading the negotiations for a Free Trade Agreement between India and ASEAN and would offer a ’springboard’ for Indian corporates willing to tap the potential markets in the region.
"Currently, Malaysia is leading the on-going negotiations with India on the ASEAN-India FTA, which is expected to cover trade in goods, services and investment," Malaysian External Trade and Development Corporation (MATRADE) Chairman Tan Sri Halim Mohamad said at a CII seminar on Malaysia-India Business Opportunities here.
He said the establishment of an FTA will broaden opportunties for Indian companies to make Malaysia a base for manufacturing and exporting their products and services to the regional and global market.
"Malaysia would act as a springboard for the Indian corporates to access the entire South East Asian market," Mohamad said.
ASEAN offers an attractive market for Indian companies, Mohamad, who is leading a 28-member business delegation, said.
He said there was considerable scope for increasing two-way trade between Malaysia and India, and added that the Malaysian Government was keen to welcome more Indian companies to invest in Malaysia "either on their own or in the form of joint ventures with Indian companies".
"Indian investments have long contributed to the development of Malaysia’s manufacturing sector," he said adding a total of 144 projects had been approved so far with Indian investments worth 420 million dollars.
