India seeks easier access for professionals to Malaysia

KUALA LUMPUR: India on Wednesday sought easier access for its professionals to the Malaysian market through a bilateral trade and investment pact, likely to be signed during Prime Minister Manmohan Singh's visit to the country in November.

"India has a higher ambition in the services sector," Indian Commerce and Industry Minister Anand Sharma told reporters after his meeting with Malaysian Prime Minister Mohd Najib Tun Razak.

He said that both the countries share a desire to conclude the Comprehensive Economic Cooperation Agreement (CECA) this year.

Speaking on Malaysia's desire to develop a knowledge-based industry in partnership with India, Najib said that his country would like to see more Indian specialists and professionals moving into it to achieve this end.

Officials from the two countries have been negotiating the CECA for opening up bilateral trade in goods and services, besides various avenues of investment.

Sharma also met Malaysian trade minister Mohammad Mustapha and discussed the progress in CECA negotiations. Both noted that though a few issues still remained on the table, they would be addressed by September.

Referring to the outlook on Indian exports, Sharma said that despite last year's economic downturn, the country was hopeful of achieving 15 per cent growth in its exports.

"Yes, we will achieve our target, the world lives on hope and we are very much focused on our target for doubling our share by 2015," he added.

Describing the forthcoming visit of the Indian Prime Minister as "the big event of the year", Mohamed said that both the countries were optimistic of a successful conclusion to the trade negotiations.

Trade between India and Malaysia amounted to $7.1 billion in 2009-10, with exports being valued at $4.8 billion and imports at $2.2 billion, a decrease of 29 per cent from 2008-09 on account of the global financial crisis.

The two sides aim to increase bilateral trade to $15 billion by 2015.