Expanded cooperation in countering terrorism, more collaboration in knowledge industries and fast-tracking negotiations on a FTA figured prominently in the discussions, IANS news agency reported, citing diplomatic sources. The agreements included an extradition treaty, a memorandum of understanding on higher education and a pact between the Securities and Exchange Board of India (SEBI) and Securities Commission of Malaysia to strengthen ties and identify cross-border opportunities through the capital market.
At a meeting with business leaders organised by the Indian chambers of commerce and industry, Najib said the market-opening pact - in addition to an already operational free trade agreement between India and the Association of South-East Asian Nations (Asean), of which Malaysia is a member - would spur economic growth. Bilateral trade between India and Malaysia stood at 10.5 billion dollars in 2008, and Malaysia is India's second-largest trading partner in 10-nation Asean.
The visiting premier, who arrived in India on a five-day state visit Tuesday, also held talks with President Pratibha Patil and ruling United Progressive Alliance chairwoman Sonia Gandhi. The Malaysian prime minister was scheduled Thursday to visit Chennai, capital of India's southern state of Tamil Nadu, where his engagements included a keynote address to a gathering of business leaders and interaction with Malaysian students in India. Tamil Nadu accounts for the majority of about 1.8 million people of Indian origin living in Malaysia.