Both Indian Prime Minister Narendra Modi and his Malaysian counterpart, Anwar Ibrahim, reaffirmed their commitment to developing trade relations between the two countries and searching for new opportunities for cooperation in various sectors such as semiconductors, electronic chips, and defense industries.
Anwar explained that this partnership includes close cooperation in several fields, including trade and investment, in addition to food security, defense, health care, and the tourism sector.
During a press conference held after receiving Modi at his official residence in Putrajaya, Anwar said: “It is a truly comprehensive partnership, and we believe that we can move forward with this matter and implement it quickly thanks to the commitment of our two governments.”
Following the bilateral meeting, Anwar and Modi witnessed the signing ceremony of eleven cooperation agreements, covering various areas such as the semiconductor industry, disaster management, and peacekeeping operations.
Anwar stated that India and Malaysia will continue to work to enhance the use of local currencies in settling commercial transactions between the two countries, expressing his hope that the volume of bilateral trade exchange will exceed the barrier of $18.6 billion, which is the number recorded last year.
Anwar also indicated that Malaysia will support India’s efforts to open a consulate in the Malaysian state of Sabah, located on the island of Borneo.
This came as part of Modi’s two-day official visit to Malaysia, which is the first of its kind since the two countries raised the level of their bilateral relations to a “comprehensive strategic partnership” in August 2024.
