A Comprehensive Economic Cooperation Agreement was signed yesterday between India and Malaysia.
The agreement, “which was reached after seven rounds of negotiation, will see Indian mangoes, cotton, motorcycles, trucks and basmati rice attract less duty in Malaysia, among other things,” reports PTI. “As a quid pro quo, the South-East nation will face less barriers on the sale of its fruit, engineering goods and chemicals in India.”
The pact has provisions for “freer movement of skilled professionals for IT, accounting, architecture and banking”. Will we now see more Indian IT professionals coming to Malaysia from renowned institutions such as Indian Institute of Technology? How will our local grads fare against them?
Foreign equity limitations in the services sector will also be liberalised.
See full report on the DNA website.