MITI and its agencies will intensify trade diversification efforts into non-traditional markets and promote investments in new growth areas including renewable energy industry, which are high value-added and technology-intensive. These include new trade and investment promotion strategies including to the new and emerging economies of Brazil, Russia, India and China. A total of 10 Trade and Investment Missions and 25 Specific Project Missions have been planned for 2009.Read More
The ASEAN-India Free Trade Agreement (AIFTA) came into effect on 1 January 2010 for Malaysia and India. It is a remarkable milestone towards a freer market environment, and an important agreement for Malaysia as India is emerging as an important trading partner as well as a market for Malaysian exports. This FTA creates a market of 1.7 billion people with combined GDP of US$2.8 trillion and combined global trade of over US$2 trillion. Under the AIFTA, ASEAN Member States and India have agreed to progressively reduce and eliminate duties on substantial number of products over a period of 3-8 years beginning 1 January 2010. The Philippines, Cambodia, Lao PDR, Myanmar and Viet Nam are given an additional 2-3 years to reduce and eliminate their duties under this FTA. Dato’ Sri Mustapa Mohamed says that Malaysia is committed to eliminate import duties on 6,792 products or tariff lines by 31December 2013, while duties on another 1,266 tariff lines would be eliminated by 31 December...Read More
YAB PM is making an official visit to the Republic of India from today until 23 January 2010. YB Dato’ Sri Mustapa Mohamed, Minister of MITI, is the accompanying Minister for the visit. The visit will be to two major cities namely New Delhi (19-21 January 2010) and Chennai (21-23 January 2010). During the visit to New Delhi, YAB PM will be meeting with H.E. Smt. Pratibha Devisingh Patil, the President of India and H.E. Shri Mohd. Hamid Anshari, the Vice President of India. YAB PM and delegation will be having a bilateral meeting with his counterpart, Hon. Dr. Manmohan Singh, the Prime Minister of India and both leaders are scheduled to witness the signing of several important G2G Memorandum of Understandings and Agreements. On 20 January 2010, YAB PM will be delivering a Keynote Address at the ‘Malaysia-India Business Forum’ in New Delhi that will be jointly organized by the Indian Associated Chamber of Commerce & Industry, Federation of Indian Chambers of Commerce &...Read More
YB Dato’ Sri Mustapa Mohamed arrived in New Delhi on Tuesday to accompany Prime Minister YAB Dato’ Sri Najib Tun Abdul Razak who is on a five-day official visit to India, Asia’s third largest economy. On hand to welcome the Malaysian delegation were various Indian dignitaries, including Minister of State for Railway E. Ahmed and India’s High Commissioner-designate to Malaysia, Vijay Gokhale. The main events in New Delhi will be YAB Prime Minister’s keynote address at the Malaysia-India Business Forum, jointly organised by the Associated Chamber of Commerce, Confederation of Indian Industry and the Federation of Indian Chambers of Commerce and Industry.
Among members of the delegation are Melaka Chief Minister, Datuk Seri Mohd. Ali Rustam, Works Minister, Datuk Shaziman Abu Mansor, Human Resources Minister, Datuk Dr S. Subramaniam. Deputy Minister in Prime Minister’s Department, Datuk SK Devamany.
Dato’ Sri Mustapa Mohamed being greeted by Mr. Randhir...Read More
In a jovial mood.. with YB Dato’ Sri Shahrizat, YB Dato’ Seri Dr. Zambry Abd. Kadir and YBhg Datuk Jalilah after the signing of MoU between Larsen & Toubro and SapuraCrest Petroleum. At the centre stage. YB Dato’ Sri Mustapa Mohamed and YB Dato’ Sri Anifah Aman accompanied YAB Prime Minister to witness the Signing Ceremony of MoUs covering the sectors of multimedia & creative technologies, biotech, oil & gas, education, manufacturing and infrastructure.
Having a chat with a Ms Shuhaimi Baba, a renowned Malaysian film director. YB Dato’ Sri Mustapa Mohamed with Dr. Kamal Hassan, who is a leading Indian film actor, script writer, and filmmaker. Dr Kamal Hassan has won several Indian film awards, including National Film Awards, and Filmfare Awards. Meeting Indian businessman Dr. K Anji Reddy, Chairman & Founder of Dr. Reddy’s Laboratories Ltd. Dr. Reddy earlier signed an MoU with Biotech Corp Sdn Bhd. Roundtable meeting with Captains of Indian Industry. Read More
YB Minister, Dato’ Sri Mustapa Mohamed received a courtesy call from German Ambassador, H.E. Dr. Guenter Georg Gruber and Dr Ernst Roeder-Messell, Counsellor for Economic, Commercial and Environmental Affairs Germany at his office.Read More
June 29, 2015 , by admin2
This afternoon, I had a very successful meeting with my Indian counterpart, the Hon. Minister Anand Sharma, in New Delhi . We discussed the progress of bilateral negotiations to ensure that we are on track to conclude the Malaysia-India Comprehensive Economic Cooperation Agreement as agreed by our Prime Ministers during Dato’ Seri Mohd Najib’s visit in January 2010. Earlier, I met with business leaders representing the Confederation of Indian Industry to exchange views and update them on some measures that Malaysia has taken in response to the issues they raised previously including matters on ease of doing business and visas for Indian expatriates. In between, I also took some time to meet with members of the Malaysian community in New Delhi . I joined the Malaysian Muslim brothers for Friday prayers at the Indonesian Embassy and later in the evening, met the business community for dinner. I am happy to see that they enjoy the highest level of...Read More
June 29, 2015 , by admin2
India’s economy with her growing middle class of 250 million is expected to grow at no less than 8% annually over the next decade. This spells opportunities for Malaysian businesses especially in ICT, healthcare, infrastructure, food products and services. We continue to maintain good bilateral relations and have a proven track record of operating in India. We encourage more businesses to take advantage of this! During my recent official trip, 18 MoUs were signed between Malaysian and Indian companies. The potential value of investments is estimated at RM1.6 billion. This signals the first steps toward collaboration in key areas which include biotech engineering, petrochemical engineering and aerospace engineering. However, signing on the dotted line is only the start and initiatives must be seen through. Here is where MITI becomes the watchdog and will monitor the progress of these MoUs. Toward this end, MITI has started a...
June 24, 2015 , by admin2
The Malaysia-India Comprehensive Economic Cooperation Agreement (MICECA) will come into effect on 1 July 2011. The free trade agreement addresses issues related to the liberalisation of trade in goods, trade in services, investments and economic cooperation. It is Malaysia’s fourth bilateral FTA after Japan, Pakistan and New Zealand.The benefits provided by MICECA are in addition to those already made available under the ASEAN-India Trade in Goods Agreement (AITIG) which was implemented on 1 January 2010. Under MICECA, Malaysia and India will progressively reduce or eliminate tariffs on an agreed list of industrial and agricultural products between 1 July 2011 and 31 December 2019. Malaysian exporters will enjoy free duty market access for rubber products, chemical products and electrical equipment from 1 July 2011. Imports from India into Malaysia will enjoy zero or lower duties for live animals and meat, textile materials and manufactures of metal beginning 1 July 2011. For...Read More