Malaysia keen to develop trade ties with India: Minister

Chennai, Jan 11 (UNI) Malaysian Minister of Works Dato Samy Vellu today said his country was keen to develop trade ties with India.

Talking to UNI here, the minister said, "with the rapid expansion of bilateral trade flows the present environment will offer an excellent window of opportunity for India and Malaysia to expand trade and economic cooperation".

"In the January 2006 to September period, the Malaysian exports to India amounted to US Dollar 3,557.39 million, compared with US Dollar 2,936 million in the corresponding period of 2005 signifying an increase of 21.61 per cent", he said adding "I have strong hope that the bilateral trade between India and Malaysia will be double during this year".

Mr Samy Vellu also pointed out that Malaysia is India's second largest trading partner in the region.

Potential areas of enhancing trade between India and Malaysia are engineering and medical, healthcare and diagnostic services as well as education biotechnology, advertising, finance and tourism, he said.

Mr Samy Vellu, who was here on a one-day tour, said Malaysians can leverage India's strengths in areas like auto components, textiles, agriculture and food processing sectors.

With the commanality in cultures, geographical positioning and proximity to each other, India and Malaysia could be promoted as a seamless tourist destination through inter-regional tourism packaging, he said adding people travelling from US and Europe to India should be able to extend their travel into ASEAN and vice- versa.

UNI