The Commerce Ministry aims to set right this trade imbalance through a joint commission meeting with the trade partner for diversifying the trade basket and making it more balanced by increasing the exports. Inputs have been sought from industry bodies and export promotion councils on the tariff and non-tariff barriers the trade faces in Malaysia.
The FTA covers trade in goods, services, investments and economic cooperation. Both countries have offered tariff liberalisation beyond the India-ASEAN FTA commitments on items of mutual interest for both. Major exported items from India to Malaysia include petroleum products, aluminium products, buffalo meat, organic chemicals and electric machinery & equipment.
Major exported items from India to Malaysia include petroleum products, aluminium products, buffalo meat, organic chemicals and electric machinery & equipment.
