IBEF: October 27, 2010
New Delhi: India and Malaysia has announced completion of the negotiations on the Comprehensive Economic Cooperation Agreement (CECA), indicating that the agreement will significantly transform the bilateral engagement between the two countries.
The agreement will be signed on January 31, 2011 by the Hon'ble Prime Minister Dr Manmohan Singh and his Malaysian counterpart Najib Tun Razak. The agreement once signed will come into force by July 1, 2011.
Razak observed that the two countries had concluded "very productive" bilateral discussions. He further added at the joint news conference that when he visited New Delhi in January this year, his desire was to make Mr Manmohan Singh's return trip "equally significant and historic". The Malaysian leader also described himself as a great admirer of Manmohan Singh for "transforming India into an economic powerhouse".
Razak considers the CECA a corner stone of India-Malaysia relations and said the agreement will unleash tremendous potential in trade, investment and other economic linkages. He said they also discussed various issues including higher education and visa issues.
Dr Manmohan Singh opined that his discussions in Malaysia had laid the foundation for a multifaceted partnership between the two countries. He further said CECA "will transform our economic engagement in a very substantive way".
Dr Manmohan Singh arrived in Malaysia on October 26, 2010 on the second leg of a three nation Asia tour that has already taken him to Japan. He further leaves for Vietnam on October 28, 2010 where he will take part in the India- Associations of the Organisation of Southeast Asian Nations (ASEAN) Summit and the East Asia Summit.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.