Financial Daily from THE HINDU group of publications
Saturday, Sep 25, 2004
Financial Daily from THE HINDU group of publications Saturday, Sep 25, 2004 |
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Industry & Economy
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Foreign Trade Malaysia keen on boosting trade ties with India Our Bureau
Mumbai , Sept. 24 A HIGH-LEVEL trade and investment mission from Malaysia led by Mr Halim Mohammad, Chairman of Malaysia's External Trade Development Corporation (MATRADE), sought to explore avenues for promoting two-way trade and investment with India. Mr Halim said his delegation came on a 10-day visit to India on September19 and had already been to Chennai and other cities. "Our visit was an eye-opener. We found that India had vast potential for promoting business with Malaysia," he said. Mr Halim Mohammad said Malaysia was building an ultra-modern port complex, on the pattern of Jebel Ali, as a transhipment hub for cargoes from countries like India on way to Pacific Rim countries. "Indian businessmen can profitably use Malaysia as springboard to other Asean countries, and get the benefit of low tariff," he said. He said his current mission had the major objectives. They are (a) to explore and expand trade and investment opportunities for his country's products and services, (b) to promote joint venture projects and other forms of business cooperation, (c) to enhance bilateral trade, (d) and to explore alternative and more competitive sources of imports. It was necessary to increase the frequency of shipping and airline services between the two countries. Malaysia was championing the cause of India's entry into Asean. "With India joining Asean, the latter would become a powerful trade bloc and huge market with 1.6 billion consumers," he said.
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