Successful conclusion of the Free Trade Agreement (FTA) between India and Malaysia by this year, initiation of negotiations with ASEAN for an agreement on the services sector and enhancing trade with Malaysia will form the basis of talks Union Commerce and Industry Minister will have with Malaysian Prime Minister Najib Tun Razak and his counterpart Datuk Mustapa Mohamed during his three-day visit to this nation.
Business delegation
Mr. Sharma, who reached here on a four-day tour of Malaysia and Singapore, will aim to expand trade relations between the two nations, especially in the context of massive opportunities being offered by India in the infrastructure sector.
Mr. Sharma will be leading a delegation of business leaders, including Fortis Group Chairman Malvinder Singh, Larsen and Toubro Chairman A. M. Naik and GMR Urban and Transport and Infrastructure Group Chairman Srinivas Bommidala.
In Kuala Lumpur, Mr. Sharma will meet Malaysian Minister of International Trade and Industry Datuk Mustapa Mohamed, Minister of Transport Datuk Sri Kong Cho and Minister of Foreign Affairs Dato' Sri Anifah Aman.
He will discuss with the Malaysian Prime Minister the progress on the FTA, which is likely to be signed during the visit of Prime Minister Manmohan Singh to Malaysia later this year. He is also likely to discuss the issue of starting negotiations between India and ASEAN on the services sector as Malaysia is an important member of this block.
He will address a meeting organised jointly by the Confederation of Indian Industry, the Malaysia-India Business Council and the Malaysian Associated Indian Chambers of Commerce and Industry on Wednesday and Thursday.
Two-way trade
The main items India exports to Malaysia are copper, aluminium and zinc, meat products, chemicals and petroleum products while major items of imports from Malaysia are crude petroleum, chemicals, palm oil and electronic products.
Trade between India and Malaysia has grown from $2.94 billion in 2003-04 to $10.60 billion in 2008-09. On July 8, Mr. Sharma will meet Lim Hng Kiang, Singapore's Minister for Trade and Industry, and Foreign Affairs Minister George Yeo.
