Malaysia has expressed an interest in strengthening its trade ties with India, reports The Economic Times. This announcement was made by Awang Tengah Ali Hasan, Malaysian Second Minister for Resource Planning and Environment, head of a 70-member delegation of Malaysian businessmen that is presently in India to discuss trade opportunities in the country.
Hasan has expressed an interest in investing in hydro-electric power projects in India, and offering Malaysia’s expertise in this field to the country.
“We are also looking at Tamil Nadu since the market potential here is huge,” stated Hasan.
He spoke of Malaysia’s desire to garner the opportunities available in India. He also invited Indian traders to invest in Malaysia.
The delegation has signed two memoranda of understanding (MoUs) to establish and strengthen bilateral trade between India and Malaysia. One MoU is between the Sarawak Timber Association and Chennai Timber and Plywood Merchants Association, while the other one is between the Sarawak Timber Association and Timber Importers Association of India Ltd. in Mumbai. The MoUs will help in better co-operation and networking between the parties involved.