India and Malaysia have signed agreements in the fields of labor and employment, Ayurveda and traditional medicines, digital technologies, culture, tourism, and cooperation in youth and sports. The two countries also inked agreements in the area of public administration, governance reforms, and mutual cooperation. The agreements were signed after delegation-level talks held between Prime Minister Narendra Modi and his Malaysian counterpart, Dato’ Seri Anwar bin Ibrahim, in New Delhi today.

Later, in his press statement, Prime Minister Narendra Modi said that India and Malaysia have decided to elevate their Enhanced Strategic Partnership to a Comprehensive Strategic Partnership. Mr Modi said that the Enhanced Strategic Partnership between the two countries is going to complete its 10 years, and in the last two years, there has been a new momentum and energy in their partnership. He said that during the delegation-level talks, both sides extensively discussed all areas of mutual cooperation and added that there is still significant potential for economic cooperation between India and Malaysia. Mr Modi said, both sides have also discussed new possibilities of mutual cooperation in the defense sector. He said, India and Malaysia are also unanimous in the fight against terrorism and extremism.     

The Prime Minister also emphasized the need to enhance cooperation in new technology areas such as fintech, semiconductors, the defense industry, artificial intelligence, and quantum technology. He added that both sides will work on linking India’s UPI with Malaysia’s PayNet. Mr Modi said, trade between India and Malaysia can now be settled in Indian Rupee INR and Malaysian Ringgits MYR. He said, last year, an investment worth five billion dollars from Malaysia to India has been worked on.                                                                         

The Prime Minister said, Malaysia is an important partner of India in ASEAN and the Indo-Pacific region. He said, India gives priority to ASEAN centrality. Mr Modi said, both sides agreed that the review of the Free Trade Agreement between India and ASEAN should be completed in a timely manner. He said, India will extend full support to Malaysia’s successful ASEAN Chairmanship in 2025.

Speaking on the occasion, Prime Minister of Malaysia Dato’ Seri Anwar bin Ibrahim said that there are many areas that both sides need to explore further. He said that India is an important and great nation with a rich history, culture, and civilization.

Later, briefing media, Secretary (East) in Ministry of External Affairs Jaideep Mazumdar said, both sides had extensive discussions on trade and commerce, defence and security, cultural exchanges, people to people ties and emerging areas like semiconductors, renewable energy and sustainable development.