Malaysia's Strategic Push: Redefining ASEAN-India Trade Ties

Malaysia’s Deputy Minister of Investment, Trade and Industry, YB Liew Chin Tong, is optimistic about finalizing the ASEAN-India Trade Agreement review by 2025. As ASEAN's chair, Malaysia aims to enhance economic and defense ties with India, promoting cooperation in technology and industry under an improved trade framework.

Malaysia's Deputy Minister of Investment, Trade and Industry, YB Liew Chin Tong, expressed optimism on Wednesday regarding the completion of the ASEAN-India Trade Agreement review by the end of 2025.

This year, with Malaysia at the helm of ASEAN and coordinating the trade agreement, hopes are high for concluding the review in a timely manner, Liew informed PTI.

Malaysia, being India's third-largest ASEAN trading partner, noted a bilateral trade of USD 20.02 billion in 2023-24, making up 17% of India's trade with ASEAN.

Liew described the agreement as an overarching framework poised to enhance the Malaysia-India economic relationship established in 2011.

Further collaboration in defense was also on the agenda, with a focus on technological advancement and industry cooperation.

He urged both nations to seize co-development opportunities and address supply chain gaps, amidst the evolving global landscape under Trump's administration.

Liew highlighted the importance of building confidence and mutual understanding to promote trade settlement in national currencies.

(With inputs from agencies.)