KUALA LUMPUR, FEB 18, 2011: INDIAN Commerce Minister Anand Sharma and Minister for International Trade & Industry Mustapa Mohamed signed the India-Malaysia Comprehensive Economic Cooperation Agreement (CECA) in the presence of Malaysian Prime Minister Mohd Najib Razak at Putrajaya in Kuala Lumpur today. The Agreement will come into effect on 1st July 2011 and the first review will be held within a year of coming into force.

The India-Malaysia CECA is a comprehensive and ambitious agreement that envisages liberal trade in goods and services and a stable and competitive investment regime to promote foreign investment between the two countries. The goods package under the CECA takes the tariff liberalization beyond the India-ASEAN FTA commitments on items of mutual interest for both the countries. Under the agreement, India will get market access in the Malaysian market for goods including fruits such as mangoes, banana and guava, basmati rice, two wheelers and cotton garments. At the same time, protection continues to be provided for the sensitive sectors. Under the services agreement, India and Malaysia have provided commercially meaningful commitments in sectors and modes of interest to each other which should result in enhanced services trade. Sectors such as accounting and auditing, architecture, urban planning, engineering services, medical and dental, IT & ITES, Management Consulting Services etc. would get Malaysian market access.