The relationship between Malaysia and India is set to reach new heights as efforts are underway to increase trade between the two countries from $20 billion to $25 billion in the next three years. Malaysia’s newly appointed High Commissioner to India, Dato’ Muzaffar Shah Mustafa, emphasized the importance of strengthening cooperation in various fields during a meeting with Governor Ramesh Bais in Mumbai.
Mustafa highlighted that Malaysia will focus on enhancing collaboration with India in tourism, science and technology, sports, and palm plantation. He specifically mentioned Maharashtra as the most important state for Malaysia in this regard. The High Commissioner also mentioned that Malaysian Prime Minister Anwar Ibrahim is expected to visit India soon, with a potential visit to Mumbai on the cards.
One of the key areas of cooperation between Malaysia and India is in the field of digital economy and semiconductor manufacturing. Malaysia, with its 50 years of experience in semiconductor manufacturing, is working closely with India through the Malaysia-India Digital Cooperation Council. Mustafa expressed optimism about providing electricity to Indians upon arrival in Malaysia and vice versa, highlighting the growing tourism between the two countries.
In addition to trade and investment, Malaysia is also focused on dispelling misconceptions about palm oil, which is a major export to India. Mustafa emphasized that palm oil is a healthy edible oil that can meet the growing global demand. He also highlighted the benefits of palm plantation for farmers, with one hectare of land producing 8 tons of palm oil for thirty years.
Governor Bais expressed hope for increased cooperation between Malaysia and India in the fields of digital economy, renewable energy, semiconductor manufacturing, and startups. He also emphasized the potential for collaboration in generic drug manufacturing, vaccine development, and mobility of health workers, given India’s status as a global hub for drug manufacturing.
The meeting, attended by the Consul of Malaysia in Mumbai and representatives from the Offices of Investment, Tourism, and Trade in India, signifies the strong commitment of both countries to further strengthen their bilateral ties and explore new avenues for cooperation.