NEW DELHI – Malaysia has obtained potential trade worth RM8 billion in the palm oil and palm oil-based product, chemicals and chemical product, oil and gas, as well as aircraft spare part sectors, said Prime Minister Datuk Seri Anwar Ibrahim.
Anwar, who concluded his three-day official visit to India today, said that during the visit, investment commitments totalling RM4.5 billion were secured from various sectors and companies in the South Asian nation.
The total trade between Malaysia and India amounted to RM72.31 billion in 2023.
Anwar said 168 investment projects valued at RM4.5 billion were implemented up to March 2024, which were expected to create 16,640 job opportunities.
The prime minister said the latest visit to India also saw the signing of eight memoranda of understanding (MoUs) between the Malaysian and Indian governments as well as seven business-to-business MoUs between the countries.
“I am grateful to Indian Prime Minister Narendra Modi for inviting me for the official visit to India, which has been gratifying,” he told the Malaysian media at the end of his visit.
In his meeting with Modi, he said both parties have agreed to boost comprehensive partnership in all areas, including digital, tourism, education, research and culture.
He also extended an invitation to the President of India Droupadi Murmu and Modi to visit Malaysia in order to increase the bilateral trade momentum between the two nations.
Asked on Malaysia’s application to join Brics, Anwar said Modi agreed to support Malaysia’s decision to join the group.
“At this time, it is still in the early stages of partnership. Direct participation will be finalised by country representatives during the Brics summit in Kazan, Russia, in about two months,” he said.
On June 18, Anwar confirmed that he has expressed Malaysia’s desire to join Brics to Brazilian President Luiz Inácio Lula da Silva.
Brics was established in 2009 as a cooperative platform for emerging economies comprising Brazil, Russia, India, and China, with South Africa joining in 2010.
Iran, Egypt, Ethiopia, and the United Arab Emirates were admitted into the organisation in January 2024.
Anwar said Malaysia will be a Brics “partner country” first before full participation is finalised.
The prime minister said he has also asked for a progress report within three months to ensure immediate action is taken to strengthen bilateral relations between Malaysia and India for mutual benefit.
On the possibility of Malaysia extending the period of free visa granted to Indians, Anwar said Malaysia will give that facility if there is a similar response from the Indian government.
He said the number of Indian tourists to Malaysia has reached almost 800,000 and the government hopes the figure would rise to 1 million.
During his trip, Anwar also held a roundtable discussion with 31 companies and captains of industry from various sectors in India, including pharmaceuticals, chemicals, electronics, insulin production, and logistics.
Anwar’s last order of business here before returning to Kuala Lumpur was a meeting with Muslim leaders, including Syed Ahmed Bukhari, imam of Delhi’s Jama Mosque, and Mahmood A. Maddani, president of the Jamiat Ulama-i-Hind. – August 21, 2024