Kolkata: Malaysia has expressed hope that the Comprehensive Economic Cooperation Agreement (CECA) with India will be concluded this year.
“On the bilateral front, both Malaysia and India had started negotiations for a CECA. We are hopeful to conclude the agreement this year,” High Commissioner of Malaysia in India Dato’ Tan Seng Sung said an interactive session, organised by the Calcutta Chamber of Commerce.
He informed that two rounds of negotiations had already been concluded and the third round had been scheduled to take place in Kuala Lumpur from 13-15 October this year.
He said that there was a huge potential for trade in goods such as processed food, oleo-chemical and medicines.
On trade in services, the Malaysian envoy said that the areas included medical, healthcare and diagnostics, computers, IT and telecommunications, financial, tourism and travel.
In 2007, bilateral trade between the two countries touched $7.88 billion, an increase of 22.2% from 2006.
“Within the ASEAN region, Malaysia is India’s fourth largest trading destination,” he said.