Malaysia, India to upgrade bilateral FTA — Zafrul
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Malaysia and India aim to enhance their economic relationship through an upgraded Free Trade Agreement (FTA) following Prime Minister Anwar Ibrahim's visit to New Delhi; Anwar and Indian PM Narendra Modi discussed cooperation in digital economy, semiconductor manufacturing, AI, infrastructure, food security, and tourism; Investment Minister Tengku Zafrul Abdul Aziz announced plans to upgrade the Malaysia-India Comprehensive Economic Cooperation Agreement (Miceca) signed in 2011; Both prime ministers set a three-month timeframe to identify focus areas for the upgrade; Trade between Malaysia and India reached US$16.5 billion in 2023; Malaysia is the 11th largest destination for Indian exports and 12th largest source of imports; Malaysia's exports of electrical and electronics products to India have increased, while the share of primary commodities has decreased; Anwar highlighted the semiconductor sector's potential for cooperation, noting Malaysia's position as the sixth largest semiconductor exporter.

#Malaysia #India #Fta #Trade #Semiconductors #Economy #AnwarIbrahim #NarendraModi #Zafrul #Miceca

https://theedgemalaysia.com/node/724131