India and Malaysia pledge to bolster trade, defence collaborations
Summary
Indian Prime Minister Narendra Modi and Malaysian Prime Minister Anwar Ibrahim have agreed to strengthen their countries' cooperation in areas like trade, semiconductors, and defense. They discussed various sectors including healthcare, food security, and tourism, and signed 11 agreements to deepen their partnership. Both countries aim to promote local currency use in cross-border trade and further enhance their semiconductor relationship.Key Facts
- Indian and Malaysian leaders met to strengthen trade and defense collaborations.
- Prime Ministers Modi and Anwar signed 11 cooperation agreements, including on disaster management and peacekeeping.
- India and Malaysia aim to use local currencies for cross-border trade.
- Both countries are enhancing their partnership in semiconductors.
- Malaysia is a major global player in the semiconductor industry, contributing 25% of its economy.
- India seeks to increase its semiconductor collaboration with Malaysian companies.
- The meeting marked Modi's first visit to Malaysia since their ties were elevated to a comprehensive strategic partnership.
- Malaysia will support India's plan to open a consulate in Malaysia's Sabah state.
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