D-8 Learning Case: Having inked an FTA with Pakistan, soon Malaysia will have FTA with India

Kuala Lumpur, Malaysia | February 15, 2008 by D-8 Secretariat

Malaysia and India have agreed to try to finalise a free-trade agreement by March 2009, Indian officials said Wednesday after the first round of talks.

The two-day negotiations in the Malaysian capital established a roadmap for the deal which is aimed at “forging a long-term, comprehensive and dynamic economic partnership between the two countries”, they said.

“Both sides will endeavour to complete the negotiations by March 2009,” the Indian High Commission (embassy) said in a statement.

Malaysia has said that a bilateral pact, which will cover trade in goods and services, investment and economic cooperation, could boost its exports to India by 1.3 times, or $12 billion, by 2012.

In 2006, India was Malaysia’s ninth largest trading partner, ninth largest export destination and 17th largest import source.

The next round of talks will be held in New Delhi on April 10-12.

Under the initiatives of its MITI (Ministry of International Trade and Industry), Malaysia has been vigorously developing her trade agreements with potential partners such as India, whose economis growth has been stunning and growing well. Among the D-8 countries, Malaysia is the member with high magnitude in export/import, and recorded the highest trade surplus. Malaysia is the candidate for the next leadership of D-8 Organization, which formally will be decided in the 6th D-8 Summit in Kuala Lumpur, Malaysia, on July 7-8, 2008.

Read Also

• Pakistan, Iran to hold talks on IPI
• Pakistan, Malaysia to sign FTA within 2 months
• Pakistan-Malaysia Free Trade Agreement: progress in closer partnership in D-8
• Pakistan ready to sign MoU with Malaysia to abolish visa
• Pakistan Can Help Malaysia Develop Halal Hub and Provide Land for Cattle Farms
• Intra-Trade on Jute of Two D-8 Countries: Bangladesh and Pakistan
• Malaysia ready to help farm and tourism sectors uplift in Pakistan
• Pakistan-Bangladesh trade to be escalated to $1 billion
• D-8 Congratulates Pakistan on its 70th Pakistan Day
• Bangladesh Case: SG will Discuss Fertilizer Projects with FM Malaysia in KL, Malaysia