- India and Malaysia pledge to strengthen trade ties, focusing on sectors like semiconductors and healthcare.
- Bilateral defence cooperation will expand, including joint exercises, intelligence sharing, and strategic dialogues.
- Both countries aim to enhance bilateral trade beyond US$18.6 billion, boosting economic growth opportunities.
The Commitment between India and Malaysia Re-Affirmed to Strengthen Bilateral Trade And Defense Cooperation and Accelerate Strategic Ties Between the Two Nations During Prime Minister Modi's Visit to Malaysia.
The Meeting Between Indian Prime Minister Modi And Malaysian Prime Minister Anwar Ibrahim Showed that Both Together Want to Improve Their Collaboration on All Areas Of Trade And Commerce, and Other High-Tech, Security, Economic Types Of Sectors.
This Will Be Prime Minister Modi's First Official Visit To Malaysia Since The Two Countries Launched (COSMOS) Comprehensive, Highest Level and Comprehensive Strategic Partnership/An Enhanced Strategic Partnership For Common Good, Equally, This COSMOS Will Allow For More Strategic Relationships Across Multiple Industries, Original Commitment Between The United States And Malaysia Was Signed On 21 August 2022 That Established The US-Malaysian Comprehensive Strategic Partnership.
At a joint press conference in Putrajaya, the leaders announced multiple sectors which they planned to develop their partnership through which they would work on semiconductor research and defence projects and healthcare programs and food security initiatives and tourism development.
The two nations established their trade relationship through investment agreements which included a new system that enables businesses to conduct international transactions using their national currencies.
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The two countries confirmed their belief that their bilateral trade would reach above US $18.6 billion which they achieved in the previous year.
The leaders observed the signing of 11 cooperation agreements which covered various strategic sectors. The two countries will expand their defence cooperation, which has been a fundamental part of their relationship, through their shared military exercises and intelligence exchange and through their increased strategic discussions.
The two parties confirmed their plans to advance their partnership in emerging technologies which include AI and digital systems and infrastructure projects while demonstrating their unified purpose to achieve economic growth through innovation.
Malaysia confirmed its backing of India's initiative to establish a consulate in Malaysia's Sabah state which is located on Borneo Island.
The two nations enhanced their diplomatic relations through a new commitment to strengthen their trade and defense partnerships which included their traditional economic ties and their development of advanced technology and strategic defense collaboration.