Malaysia ready to act as India's gateway into ASEAN: Malaysian PM | world | Hindustan Times
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Malaysia ready to act as India's gateway into ASEAN: Malaysian PM

In a boost to bilateral ties, Malaysian Prime Minister Najib Tun Razak today said his country was ready to facilitate entry of Indian entrepreneurs into South-East Asia and act as India's gateway into ASEAN.

world Updated: Nov 19, 2010 16:23 IST

In a boost to bilateral ties, Malaysian Prime Minister Najib Tun Razak on Friday said his country was ready to facilitate entry of Indian entrepreneurs into South-East Asia and act as India's gateway into ASEAN.

The Association of Southeast Asian Nations (ASEAN) is a grouping of ten countries of the region.

"I reiterate that Malaysia will do what is necessary for Indian entrepreneurs to increasingly view Malaysia as a strategic commercial destination – a destination that can play a key role in their business' onward growth and international expansions.

"Given the very strong formal and personal relationship between both governments, I am confident that we can provide the right political ambience which will result in the burgeoning of commercial activities between the two countries and between ASEAN and India,"", he said.

Razak was speaking at the Asia Pacific Conference 2010 themed Asean & India: Going Global' organised by The Indus Entrepreneurs (TiE) Malaysia.

Malaysia, Razak said, would continue to engage India while continuing to play a leading role in building on existing linkages between ASEAN and India.

"Our commitment is underscored by my visit to India earlier this year as well as the recent visit of my Indian counterpart Prime Minister Dr Manmohan Singh to Malaysia", he said.

Singh was in Malaysia late last month on a three-day visit.

Many landmark agreements were also inked to boost trade and investment flow between both countries.

"The Securities Commission and the Stock Exchange Board of India, have also signed an agreement paving the way for improved opportunities in cross border capital market activities," Razak said.

He said Bursa Malaysia was working with TiE to encourage Indian and non-resident Indian businesses to grab opportunities offered by the Malaysian capital market.

The government, he said, would continue to pursue policies that would help entrepreneurs to thrive .

He said it will focus on initiatives that "will clearly communicate to the world that Malaysia is a country on the move".

ASEAN and India represented a market of 1.7 billion people with a combined Gross Domestic Product (GDP) of approximately USD 3 trillion he said.

TiE Malaysia president Sittampalam said they were planning to set up a TiE Asean secretariat here by June next year to fortify Malaysia's position as a hub to facilitate ASEAN-India partnership.