August 19, 2024
Starting today, August 19, Prime Minister Anwar Ibrahim is on a three-day official visit to India, concluding on Wednesday, August 21. During his visit, he will meet with Indian Prime Minister Narendra Modi and engage in discussions with local business leaders to enhance trade and commercial collaboration between Malaysia and India. According to Malaysia’s High Commissioner to India, Dato' Muzafar, Anwar’s official aircraft landed at Palam Air Force Base at 9:40 PM local time yesterday (12:10 AM Malaysian time), marking the beginning of his visit. The delegation accompanying Anwar includes Foreign Minister Dato' Seri Mohamad Hassan, Minister of Investment, Trade and Industry Tengku Zafrul, Minister of Tourism, Arts and Culture Dato' Seri Zhang Qingxin, Minister of Digital Dato' Gobind Singh, and Minister of Human Resources Mr. V. Sivakumar.
On the first day of his visit, Anwar is scheduled to hold meetings with representatives from Tata Consultancy Services, Emami Agrotech Ltd, and HCLTech, with attendees from the Ministry of Human Resources, Ministry of Digital, and Ministry of Trade and Industry also participating. The second day will be busier, starting with a reception at the Presidential Palace, followed by a wreath-laying ceremony at the Gandhi Memorial. Anwar will then conduct formal talks with Indian Foreign Minister S. Jaishankar and Prime Minister Modi, where several memorandums of understanding between the two nations are expected to be signed. Additionally, Anwar will deliver a keynote speech titled “Emerging Global South: Leveraging Malaysia-India Relations” at the Indian Council of World Affairs (ICWA).
releavant Info
India-Malaysia Partnership: A Comprehensive Overview
The India-Malaysia relationship, rooted in historical ties, encompasses defense, economics, and cultural exchanges. Despite geopolitical shifts and trade barriers, the strategic collaboration between the two nations remains strong, supported by their shared roles in global forums.
Historical Context and Strategic Growth
Diplomatic ties were formalized in 1957, with the partnership evolving into a strategic alliance since 2010, and elevated further during Prime Minister Narendra Modi’s visit in 2015. India’s foreign policy, particularly its Act East Policy, has intensified focus on Malaysia, given its role in regional trade and maritime security.
Economic and Trade Relations
India is Malaysia’s largest trading partner in Southeast Asia, while Malaysia is India’s third-largest partner in ASEAN. In 2022, Malaysia’s exports to India reached US$12.42 billion, and India’s exports to Malaysia were US$7.19 billion. Key exports include mineral fuels, electronics, and machinery.
Investment Landscape
Kuala Lumpur is a significant investor in India, with investments of US$1.17 billion and a presence of around 70 Malaysian companies in various sectors. Indian companies also have a substantial presence in Malaysia, contributing to diverse sectors like IT, healthcare, and biotechnology.
Key Areas of Collaboration
Energy: Cooperation includes both fossil fuels and renewable energy projects.
Tourism and Diaspora: India and Malaysia have a strong tourism exchange and a substantial Indian diaspora in Malaysia, fostering cultural and economic ties.
Technology and Medicine: Both countries are advancing cooperation in IT, digital payments, and pharmaceuticals.Food Security and Agriculture: Recent agreements have improved trade in strategic goods and food products.
Defense: The defense relationship includes joint exercises and potential arms trade.
Challenges and Future Prospects
Challenges such as geopolitical shifts and trade barriers exist, but the strong partnership is expected to endure. The recent revival of the India-Malaysia Joint Commission Meeting and the anticipated amendment to the Comprehensive Economic Cooperation Agreement (CECA) aim to enhance trade, targeting a US$25 billion trade volume by 2027. Opportunities in emerging sectors and enhanced bilateral collaborations are expected to drive future growth.