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Current Affairs-Topics
India-Malaysia Bilateral Meeting: PM Modi and Ibrahim Meet
In a bilateral meeting in New Delhi, Prime Minister Narendra Modi and Malaysian Prime Minister Anwar Ibrahim discussed cooperation in various areas, including political, defense, security, economic, trade, and cultural relations. |
Bilateral Meeting and Diplomatic Relations
- Prime Minister Narendra Modi and Malaysian Prime Minister Anwar Ibrahim held bilateral talks in New Delhi on August 20, 2024.
- This was Ibrahim's first visit to India as Malaysian Prime Minister since taking office in 2022.
- The relationship was elevated to a Comprehensive Strategic Partnership, building on the Enhanced Strategic Partnership established in 2015.
- Both leaders discussed various areas of cooperation, including political, defense, security, economic, trade, and cultural relations.
- Eight Memorandums of Understanding (MoUs) were signed in areas such as labor recruitment, digital technology, and defense.
- Both Prime Ministers agreed to hold regular exchanges and dialogues on bilateral, plurilateral, and multilateral issues of mutual interest.
Economic Collaboration and Trade
- Bilateral trade reached a record high of US$19.5 billion.
- Leaders encouraged industry to further enhance bilateral trade sustainably for mutual benefit.
- Both countries agreed to support and expedite the review process of the ASEAN-India Trade in Goods Agreement (AITIGA).
- Discussions on convening the 2nd Joint Committee Meeting of Malaysia-India Comprehensive Economic Cooperation Agreement (MICECA) were welcomed.
- Collaboration between the Reserve Bank of India and Bank Negara Malaysia to promote local currency settlement in bilateral trade and investments was appreciated.
- Industries were encouraged to facilitate invoicing and settlement of trade in local currencies (Indian Rupee and Malaysian Ringgit).
Digital Cooperation and Technology
- An MoU on Digital Technologies was signed.
- Plans to establish a Malaysia-India Digital Council to guide engagement in the digital realm were announced.
- Collaboration in areas such as Digital Public Infrastructure, digital B2B partnership, digital capacity building, cybersecurity, and emerging technologies was emphasized.
- Prime Minister Modi announced plans to integrate India's Unified Payments Interface (UPI) with Malaysia's PayNet system.
- Ongoing discussions between Start-up India and Cradle Fund of Malaysia through an India-Malaysia Start-up Alliance were welcomed.
Education, Culture, and People-to-People Ties
- India announced the allocation of 100 seats for Malaysians under the Indian Technical and Economic Cooperation (ITEC) scholarship program in advanced fields like cybersecurity and artificial intelligence.
- Plans to establish an Ayurveda Chair at Malaysia's University Tumko Abdul Rahman and a Thiruvalluvar Chair at a Malaysian university were announced.
- Both leaders acknowledged the importance of youth in the countries' development and agreed to promote greater exchanges.
- Cultural and tourism cooperation was discussed to strengthen people-to-people relations.
Regional and Global Cooperation
- Both countries reiterated their commitment to ASEAN centrality.
- India expressed support for Malaysia's upcoming chairmanship of ASEAN in 2025.
- Malaysia appreciated India's initiative in hosting the Voice of the Global South Summit (VOGSS).
- Both leaders condemned terrorism and agreed to work together to bring perpetrators of terrorism to justice expeditiously.
- They also agreed to address the linkages between terrorism and transnational organized crime.
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