India invites Malaysian investment in infra, power
With the growing bilateral trade between India and Malaysia, the Commerce and Industry Minister Andand Sharma has called for greater investment in other sectors such as infrastructure, power and housing. Holding meeting with his Malaysian counterpart Mustapa Mohamed in New Delhi, Mr. Sharma also discussed ways to enhance trade and investment between India and Malaysia.
Bilateral trade between the countries has registered a compounded annual growth rate of 29% during last five years and has crossed the US$10 billion mark in 2008-09.
Mr. Sharma also urged the Malaysian Minister to facilitate the conclusion of India-ASEAN Services & Investment Agreement negotiations. Both sides reviewed the status of India-Malaysia Comprehensive Economic Cooperation Agreement (CECA) negotiations and mandated officials to conclude the negotiations by the end of 2010.
The Malaysian Minister has invited Mr Sharma to visit Malaysia in June 2010 along with a business delegation.