By Xinhua
Kuala Lumpur : Malaysia and India are in talks to conclude an economic cooperation treaty within the current year, the Malaysian trade minister said Tuesday.
The first meeting of the officials of the two countries to negotiate the Comprehensive Economic Cooperation Agreement (CECA) started here a week ago and both parties have expressed their keenness to conclude the treaty in the current year, Malaysian Trade Minister Rafodah Aziz said here.
Malaysia is exploring India as one of its principal export markets, the minister said, adding that in 2007, India was Malaysia’s 12th largest trade partner in the world, accounting for 2.5 percent of total trade.
In 2007, total trade between Malaysia and India was worth 27.27 billion ringgit ($8.3 billion). This was 15.2 percent up compared with the previous year.
Malaysia and Pakistan signed such an agreement here last November, which had come into force at the beginning of this year.