The Prime Minister of Malaysia Mohd Najib Tun Abdul Razak is on a state visit to India from March 30 to April 4, 2017. This is Prime Minister Najib’s third visit to India since assuming office as Prime Minister in 2009.
During the visit, India and Malaysia premier signed seven agreements and memorandum of understanding (MoU) to boost the bilateral relations. Besides, the two leaders also issued a Joint Statement to commemorate the 60th anniversary of India-Malaysia diplomatic relations.
Highlights of Bilateral Agreements:
- Air Services Agreement (ASA) between India and Malaysia: It revises the original ASA signed in 1974 as per International Civil Aviation Organization (ICAO) standards.
- Both countries signed MoU on Cooperation in development of a Urea and Ammonia Manufacturing Plant in Malaysia. The MoU envisages Malaysia consortium of Isomeric Holding Sdn Bhd and Edra Power Holdings Sdn Bhd to put up a 2.5 MT/annum urea and ammonia manufacturing plant in Malacca, Malaysia for dedicated consumption by India.
- MoU on Cooperation in the Field of Sports: The MoU envisages cooperation through exchange of sportspersons, instructor, information on sports regimen and training curricula, etc.
- MoU between the Malaysia Human Resource Fund (HRDF) and EDII, Ahmedabad for cooperation in training: The MOU envisages EDII, Ahmedabad carrying out training and other capacity building programs, as necessary on behalf of the Human Resource Development, Malaysia.
- MoU between Association of Indian Universities (AIU) and Malaysia Qualifications Agency (MQA): The MoU establishes recognition of equivalence of the various degrees awarded by educational institutions in the two countries, and envisages the eventual signing of a mutual recognition agreement between the two Educational/Higher Education Ministers.
- MoU between Malaysian Palm Oil Board (MPOB) and Institute of Chemical Technology (ICT): The MoU envisages collaboration in technology development in the field of Palm Oil.
- MoU between Malaysian Industry-government group for high power technology (MIGHT) and AP Economic Development Board: Malaysian Technology Group MIGHT will provide support to develop a cluster in Andhra Pradesh (AP).
Indian, Malaysian firms exchange MoUs worth $36 bn
Mr. Najib was accompanied by a huge delegation comprising of Malaysian business tycoons. During his visit, Indian and Malaysian firms signed about 31 investment agreement worth a whopping $36 billion covering areas of construction, education, and pharmacy. These agreements were signed in the presence of Commerce and Industry Minister Nirmala Sitharaman and Malaysia Prime Minister Mohd Najib Tun Abdul Razak in New Delhi.
India-Malaysia CEO’s Forum:
- Meanwhile, India-Malaysia CEO’s Forum meeting which coincided with Mr. Najib’s visit issued a joint statement calling for a balanced Regional Comprehensive Economic Partnership (RCEP) and its manifestation on an immediate
- The forum identified healthcare, infrastructure, education, and SMEs as key areas for cooperation that will help in pushing bilateral trade to the tune of $15 billion.