Malaysia is keen to support India’s semiconductor manufacturing program with its proven expertise in the sector, said Norman Dzulkarnain Nasri, Consul (Trade), Consulate General of Malaysia in India.
“Malaysia has a huge electronic manufacturing cluster in Penang and it also has a huge deposit of silica, which is used in semiconductors,” Nasari said while speaking at an interactive session organised by MVIRDC World Trade Center Mumbai.
He also called upon Indian professionals to conduct vocational training in electronics and digital technology sectors are given India’s world-reputed technical educational institutions such as IITs.
Earlier, Ahmad Zuwairi Yusoff, Consul General, Consulate General of Malaysia, spoke about enhancing trade and investment ties with India.
“The visit of three Malaysian ministers to India, this year, to explore partnership in tourism, human resource development and trade is a significant move to strengthen bilateral ties. The Consular offices of Malaysia in Mumbai are keen to partner with WTC Mumbai in organizing trade programs, trade fairs and facilitating trade delegation between both the countries,” Yusoff added.
Malaysia, being the third largest trade partner of India in the ASEAN region, the consulate offices have expressed interest to partner with World Trade Center Mumbai to explore bilateral trade and investment potential, he added. The Consulate General of Malaysia has dedicated offices in Mumbai for promoting bilateral trade and investment.
In her welcome remarks, Rupa Naik, Executive Director, WTC Mumbai expressed pleasure to collaborate with the Malaysian Consular offices on trade promotion initiatives.
“The current trade value between India and Malaysia is USD 19 billion, which can be raised to USD 25 billion if we utilise the two trade agreements signed between the two countries. Indian exporters can utilize the India-Malaysia Comprehensive Economic Cooperation Agreement (CECA) and also our FTA with ASEAN to gain concessional market access in Malaysia,” Naik said.
Meanwhile, Malaysia has offered tariff concessions on 140 items under the CECA with India and some of these items are basmati rice, mangoes, eggs, trucks, motorcycles and cotton garments, where India has export opportunities to South East Asian country.