Sharma to meet Malaysia, Singapore trade ministers

Commerce and Industry Minister Anand Sharma will meet Malaysian Minister of International Trade and Industry Datuk Mustapa Mohamed during his visit to the island nation, as the two countries aim to conclude a trade pact in 2010.

Sharma is leading a high-level CII business delegation to Malaysia and Singapore--both of which are an ASEAN member--on a four-day visit beginning tomorrow.

He would also be calling upon Malaysian Prime Minister Datuk Seri Mohd Najib Tun Abdul Razak, an official statement said.

India and Malaysia are discussing a comprehensive free trade agreement to increase their bilateral trade valued at about $11 billion.

Negotiations are being carried out simultaneously towards agreements on trade in goods, services, investment and other areas of economic cooperation as a single undertaking, which are targeted to conclude by December 2010.

Sharma, who signed the India-Association of Southeast Asian Nations (ASEAN) FTA on behalf of New Delhi last year, would also be meeting Singaporean Minister for Trade and Industry Lim Hng Kiang during his visit to that country.

The two countries had entered into a trade pact in 2005.

The India business delegation include Group Chairman of Fortis Healthcare Malvinder Singh, CMD of Larsen & Toubro A M Naik and CEO of GMR Properties S G K Kishore.