By IANS,
Kolkata : Total bilateral trade between India and Malaysia stood at $4.09 billion from January to May this year against $2.94 billion in the same period last year. The amount is expected to go up to $16 billion by 2012, according to Malaysian High Commissioner to India Ten Seng Sung.
India now imports crude petroleum, palm oil, electrical and electronic products from Malaysia and exports chemicals and chemical products, live animals and refined petroleum products, Sung said after a meeting with West Bengal Chief Minister Buddhadeb Bhattacharjee.
The two countries have identified sectors like petroleum and gas, IT, healthcare, education, processed food, medicine, construction and engineering as major areas of collaboration.
On the other hand, major Malaysian companies have invested in sectors like construction, power generation, telecommunications and tourism in India, Sung said.
The high commissioner assured Bhattacharjee that he would look into the scope of resuming air connectivity between Kuala Lumpur and Kolkata.
The chief minister sought collaboration with Malaysia in the area of agro processing. He emphasised that West Bengal could export mangoes to Malyasia and provide opportunities to the companies from the East Asian nation to put up potato processing plants as the state had a huge surplus in potato production.
Sung and Bhattacharjee also discussed the possibilities for Malaysian investment in the state in the infrastructure sector and also for setting up downstream units in petrochemicals and steel sectors, according to a statement issued by the office of the Malaysian Consul in Kolkata Sanjay Budhia.