India, Malaysia looking at reviewing 2011 trade pact, says Malaysian Foreign Minister Kadir

India and Malaysia are firming up a framework for conducting trade in national currencies and initiating a process to review the 12-year-old comprehensive economic cooperation agreement to include new domains and items, Malaysian Foreign Minister Zambry Abdul Kadir said..

At the end of a three-day visit to India, Kadir told PTI that both sides are keen to expand trade engagement in new and emerging areas such as electronics, semiconductors, fintech, renewable energy, new technology and startups...

Ways to further boost the overall trajectory of ties were discussed extensively during talks between External Affairs Minister S Jaishankar and his Malaysian counterpart on Tuesday night.. Asked about India's long-pending demand to Malaysia to extradite fugitive evangelist Zakir Naik, Kadir did not give a direct reply and said Kuala Lumpur is keen on strengthening institutional mechanisms to boost security cooperation rather than focusing on any individual...

We think such a move will strengthen the local currencies," he said late on Tuesday night.. India is in talks with a number of partner countries to develop alternative arrangements for trade settlements in national currencies in addition to the existing system of using freely convertible currencies like the US dollar...

To a question on whether Malaysia is keen to procure BrahMos supersonic missiles from India, Kadir declined to comment but said ministries concerned of the two sides will look into all relevant issues for deepening defence ties...

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