India, Malaysia target $15 bn trade

Having signed a Comprehensive Economic Cooperation Agreement last year, India and Malaysia are hopeful of reaching a bilateral trade target of $15 billion by 2015. The trade between the two countries was already worth $8.9 billion in 2010, according to Shah Nizam Ahmed, consul (trade), Consulate General of Malaysia at Chennai. He said Malaysia is India's second largest trading partner in the 10-nation Asean grouping, after Singapore. Now, Malaysia wants to develop direct trade with India and other Asian countries, Ahmed said at a round table meet organised by Fapcci on Wednesday.