October 27, 2010 2:06 PM

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India and Malaysia sign agreement to implement CECA

India and Malaysia have signed an agreement to implement Comprehensive Economic Cooperation Agreement, CECA, in July next year. The two countries have also signed agreements and Memorandum of Understandings in the areas of Information Technology and Services, Tourism, Traditional Medicine, Cultural Exchanges and Scientific Research and Development. The agreements were signed after extensive talks between Prime Minister Dr Manmohan Singh and his Malaysian counterpart Mohammad Najib Tun Razak at Putrajaya in Kuala Lumpur. Later in a brief joint press interaction, the Malaysian Prime Minister expressed the hope that two countries will be able to attain the target of their trade turnover to 15 billion dollars by 2015. Describing the talks with Dr Manmohan Singh as fruitful and braodbased, Mr Razak said that the issues of infrastructure development, defence cooperation, maritime security and combating all forms of terrorism as well visa related matters were discussed. In his remarks, Dr Manmohan Singh said that this year has been a turning point in the history of India-Malaysian relations. He said that the understandings and agreements reached today have established a solid foundation for the building of a Strategic Partnership, and bringing peoples of the two countries together for a better future. He said that their discussions today laid the basis for a multi-faceted partnership. He said that they have also agreed on a framework for a strategic partnership and to work closely with each other on regional and international matters of common interest. He said that India welcomes greater Malaysian investment in its infrastructure and manufacturing sectors, and companies in the country are looking forward to doing greater business in Malaysia and the ASEAN region. The two leaders have agreed to enhance their defence exchanges and explore the possibility of joint collaboration on project of mutual interest of the defence sector. They have also decided to set up of a bilateral joint working group on counter terrorism at an early date and share information to enhance their cooperation to combat this menace. Later the two leaders formally launched the India-Malaysia CEOs Forum. Dr Manmohan Singh said that this will encourage direct interaction between business and industry in each other’s countries as well in third countries.

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