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Anand Sharma invites Malaysian investments in infrastructure

By Devaki

New Delhi, July 7 (ANI): Union Commerce and Industry Minister Anand Sharma on Wednesday sought greater Malaysian investments in building physical infrastructure and the participation of Malaysian sovereign investment funds.

Sharma, who is leading a 15-member high-level CEO delegation to Malaysia today called on the Malaysian Prime Minister Mohd Najib Tun Razak.

The Malaysian Prime Minister expressed a strong wish for an early conclusion of Comprehensive Economic Cooperation Agreement (CECA) with India.

Sharma apprised him about the progress of negotiations, expressing optimism in concluding negotiations by end of the year.

"Malaysia is keen to develop the knowledge-based industry in partnership with India and would like to see greater movement of Indian specialists and professionals towards this end," said Razak.

He expressed satisfaction on the dynamism of India- Malaysia bilateral trade, expressing hope that the target of 15 billion dollar would be met much earlier than 2015.

The Malaysian Prime Minister underlined the growing partnership between Indian and Malaysian corporates, specially commending the Terminal 3 of IGI Airport as a shining example of collaboration.

Razak evinced keen interest in collaboration in infrastructure, energy and gave a special emphasis on renewable energy collaboration for rural electrification in Malaysia.

Earlier in the day, Sharma had bilateral talks with his counterpart Minister Dato' Sri Mustapa Muhamed.

During the meeting, both ministers reviewed the progress in ongoing CECA negotiations and agreed to conclude a balanced and ambitious agreement by the end of the year.

Taking stock of bilateral trade and investment relations, they expressed confidence of achieving the target set for bilateral trade.

Investments from both sides are in the range of five billion dollar and the ministers identified priority sectors for future engagement including infrastructure, particularly highways, railways and airports, IT and ITES, biotechnology, tourism and health services.

They also agreed to encourage joint investment projects in third countries, citing the successful execution of airport project in Istanbul.

On July 8, Sharma will hold a bilateral meeting with Singapore Minister for Trade and Industry Lim Hng Kiang.

He will be addressing a session on India-Singapore: Enhancing Trade and Economic Cooperation and a public lecture on 'Resurgence of Asia in 21st century - an Indian perspective' on July 9. (ANI)

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