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India, Malaysia Forge Deeper Ties: Trade & Tech Boost
8 Feb
Summary
- India and Malaysia renewed pledges to enhance trade.
- Collaboration in semiconductors and defence was explored.
- Bilateral trade aims to surpass last year's $18.6 billion.
Indian Prime Minister Narendra Modi and Malaysian Prime Minister Anwar Ibrahim reaffirmed their commitment to deepening bilateral ties during Modi's recent two-day visit. This visit marks a significant step following the elevation of their relationship to a comprehensive strategic partnership in August 2024.
The renewed pledges focus on bolstering trade, with both nations aiming to exceed last year's $18.6 billion in bilateral trade. They also committed to exploring new avenues for collaboration in critical sectors, including semiconductors and defence.
Further cooperation was solidified through the witnessing of 11 agreements covering areas such as disaster management and peacekeeping. The leaders also discussed promoting the use of local currencies for cross-border transactions.
Malaysia expressed its support for India's initiative to establish a consulate in the Malaysian state of Sabah, underscoring the strengthening strategic alignment between the two countries.
