Assam Industries and Commerce Department has signed a Memorandum of Understanding (MoU) with Malaysia India Business Council (MIBC) to enhance India-Malaysia bilateral trade and investment.
The MoU was signed in Guwahati on November 10 in the presence of Assam Minister of Industry and Commerce Chandra Mohan Patowary and MIBC President Tan Sri Ir Kuna Sittampalam. According to the MoU, both parties agreed to explore and develop the two-way trade and investment between the two countries in sectors such as education, tourism, primary industries, etc.
Assistance will be given to Indian business or trade missions visiting Malaysia and vice versa in seminars, conferences, exhibitions, economic and technical fairs, information offices, symposia, or similar events taking place in each other's countries.
It was also decided to accelerate engagement, trade, cultural exchange to unlock the potential sectors between Assam and Malaysia.
Speaking at the ceremony, Patowary said, “Business and connectivity are two sides of the same coin. The trilateral highway which is expected to open by 2021 will connect Assam to Malaysia through Myanmar and Thailand.”
He said the Kaladan multi-modal project will provide access to Sittwe seaport of Myanmar and make it easy to trade with Malaysia and the Mongla and Chittagong ports of Bangladesh will allow North East to access the South East Asian market.
Describing the MoU as the start of a new journey of trade and economic collaboration, Patowary hoped the agreement would help embark on a new journey of identifying possibilities and investing in future sectors.
Assuring assistance and cooperation, the Minister asked the Malaysian delegation to invest in sectors such as education, health care, food processing, tea tourism, bamboo and agar that are sponsored by investment-friendly policies such as state industrial policy, sugar policy, IT policy, export, and logistics.
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