India, Malaysia looking at reviewing 2011 trade pact, says Malaysian Foreign Minister Kadir
India and Malaysia are firming up a framework for conducting trade in national currencies and initiating a process to review the 12-year-old comprehensive economic cooperation agreement to include new domains and items, Malaysian Foreign Minister Zambry Abdul Kadir said. At the end of a three-day visit to India, Kadir told PTI that both sides are keen to expand trade engagement in new and emerging areas such as electronics, semiconductors, fintech, renewable energy, new technology and startups.
Ways to further boost the overall trajectory of ties were discussed extensively during talks between External Affairs Minister S Jaishankar and his Malaysian counterpart on Tuesday night.
Asked about India's long-pending demand to Malaysia to extradite fugitive evangelist Zakir Naik, Kadir did not give a direct reply and said Kuala Lumpur is keen on strengthening institutional mechanisms to boost security cooperation rather than focusing on any individual.
Naik is facing a multi-agency probe in India on a variety of charges, including terror-related activities and inciting extremism through hate speeches. He left India in 2016.
Kadir also expressed Malaysia's gratitude to India for providing 170,000 metric tonnes of non-basmati white rice recently when the country was reeling under shortage of rice.
India banned export of non-basmati white rice in July, but the restriction was lifted for a small number of countries last month.
To a question on escalating tensions in South China Sea in view of China's increasing assertiveness, Kadir said Malaysia and other member nations of the ASEAN do not want to allow this region to become a «flashpoint» and an area for «big power» competition.
Listing various measures to expand
