Sitharaman invites Malaysian businesses to be a part of India's growth story
Date
7/14/2015 3:18:31 AM
(MENAFN- KNN India) Inviting the Malaysian business community to participate in India's growth story, India's Commerce Minister Nirmala Sitharaman said the country is committed to work with other countries for early conclusion of mutually acceptable RCEP agreement - a mega trade deal of 16 countries.
Sitharaman is currently on an official visit to Kuala Lumpur from July 12-14, 2015. She is leading the Indian delegation to attend the Regional Comprehensive Economic Partnership (RCEP) Inter-Sessional Ministerial Meetings and related meetings.
On Monday, she attended the RCEP Inter-Sessional Ministerial Meetings. She reiterated the importance attached by India to RCEP negotiations and conveyed India's continued commitment to work with other countries to conclude a mutually acceptable RCEP Agreement.
She also met her Malaysian counterpart Dato' Sri Mustapa Mohamed, Minister of International Trade and Industry, Government of Malaysia. The two Ministers discussed issues relating to the ongoing RCEP negotiations as well as ways and means to enhance bilateral trade and investment. MOS (IC) welcomed greater participation from Malaysian companies in the 'Make in India' initiative.
Malaysian companies have invested around USD 6 billion in India over the years and additionally taken up several billion US dollars worth of projects in India, especially in infrastructure and construction sectors. Both Ministers agreed to take our bilateral economic and commercial engagement to a much higher trajectory.
Malaysia India Business Council (MIBC) later hosted a dinner in honour of the Minister, where nearly 100 CEOs from Malaysian and Indian companies participated, including from the Consortium of Indian Industries in Malaysia (CIIM).
Speaking on this occasion, Sitharaman conveyed the commitment of India to deepen the Strategic Partnership with Malaysia and make it truly multi-dimensional.
She recalled the fruitful meeting between the Prime Ministers of the two countries in November last year in Nay Pyi Taw and expressed her hope that Prime Minister Narendra Modi's visit to Malaysia later in the year will open a new chapter in our bilateral Strategic Partnership. She mentioned that Malaysia was key to India's economic engagement with South East Asia and outlined the series of new initiatives taken by the Government of India to attract FDI into the country as well as improve the ease of doing business in India. She invited the Malaysian business community to participate in India's growth story. (KNN Bureau)
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