India, Malaysia to commense CECA negotiations

Singapore, Aug 14 (UNI) India and Malaysia expect to commence negotiations for a Comprehensive Economic Cooperation Agreement (CECA) from January 2008, citing strong growth in bilateral trade, according to Kuala Lumpur-based media reports today.

A joint study by the two countries top officials has recommended establishing India-Malaysia CECA, covering trade in goods and services, investments, and other areas of bilateral economic cooperation and partnership.

The study recommended the start of negotiations for the bilateral pact commenced simultaneously as a means of establishing CECA.

The 158-page document was signed and adopted by India's Commerce Secretary Gopal K Pillai and Malaysian Ministry of International Trade and Industry (Miti) Secretary General Abdul Rahman Mamat last weekend.

It estimates the two countries' bilateral trade of 16 billion dollars by 2012, up from the current level of 6.5 billion dollars.

The study lists areas for trade in services with potential for higher participation, trade facilitation measures and initiatives to enhance two-way investment flows and cooperation in other areas.

UNI