KUALA LUMPUR: Malaysia is optimistic its bilateral trade with India will hit US$15 billion this year, given the strong economic growth posted by the two countries.
International Trade and Industry Ministry secretary-general Datuk Dr Rebecca Fatima Sta Maria said Malaysia and India were working intensively to bolster bilateral trade and services.
Last year, Malaysia-India two-way trade totalled US$13.3 billion.
“With the signing of the Malaysia-India Comprehensive Economic Cooperation Agreement (CECA), trade and investment growth between the two countries are on track.
“The enhanced engagement between the private sectors of the two countries also contributed significantly for higher trade and investment,” she told reporters on the sidelines of the Malaysia-India Business Council (MIBC) Conference 2013.
Malaysia and India were enjoying very healthy relations and there was huge unrealised potential for trade and investment expansion between the two friendly nations, she added.
The one-day conference was to enable Malaysian businessmen and investors to gain valuable insights into India’s political and economic scenario.
The MIBC, headed by Tan Sri Krishnan Tan, who is also IJM Corporation Bhd executive deputy chairman, was formed to promote bilateral trade, services and investment between Malaysia and India.
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