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Mustapa On Trade And Investment Mission To India

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NEW DELHI – Minister of International Trade and Industry Datuk Seri Mustapa Mohamed is leading a three-day trade and investment mission to India starting on Wednesday and is scheduled to participate at the Confederation of Indian Industry (CII) Partnership Summit 2015.

The minister is set to have several business meetings with potential investors from India as well as Malaysian businesses that already have an establishment here.

Mustapa will deliver a special address at a seminar entitled “India-Malaysia Trade and Economic Cooperation in the Context of Indian Economy Dynamism and India’s Act East Policy” in New Delhi organised by Research and Information System for Developing Countries (RIS).

RIS is a think-tank under India’s Ministry of External Affairs envisioned as a forum for fostering effective policy dialogue and capacity-building among developing countries on international economic issues.

The focus of the work programme of RIS is to promote South-South cperation and assist developing countries in multilateral negotiations in various forums.

Mustapa will then head to the CII Summit to be held in Jaipur, Rajasthan.

He will participate in the “Mega-Regional Trading Blocs: Implications for Emerging Economies” session, along with Australian Minister for Trade and Investment Andrew Robb and Minister of Commerce of China Gao Yan.

India has been an important trading partner for Malaysia since 1998, being the largest export destination in the Southeast Asia region.

Mustapa led a similar trade mission to Southern India last year which generated a lot of interest, especially from the Small and Medium Enterprise (SMEs) sector as well as the automotive industry.

Malaysia and India have set a bilateral trade target of US$20 billion by year-end.

Malaysia’s major exports to India last year were electrical and electronics products, chemicals and chemical products, metal and palm oil, while its main imports from India were chemicals and chemical products as well as meat.

The implementation of the Malaysia-India Comprehensive Economic Cooperation Agreement on July 1, 2011 has further boosted bilateral trade between the two nations. – BERNAMA

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