AGREEMENT TOWARDS IMPLEMENTING
COMPREHENSIVE ECONOMIC COOPERATION AGREEMENT
BETWEEN
THE GOVERNMENT OF THE REPUBLIC OF INDIA AND
THE GOVERNMENT OF MALAYSIA
ON 1ST JULY 2011
WE, the Minister of Commerce and Industry of the Republic of
India and Minister of International Trade and Industry of Malaysia;
Desiring to forge a stronger economic partnership and deepen
economic linkages between our countries; increase bilateral trade and investment
flows; enhance the global attractiveness of our capital and talent; and further
promote and facilitate cooperation of businesses in our common goal of economic
building;
Recognising that a rules-based, preferential bilateral trade
arrangement can contribute towards accelerating our economic development;
Recalling that we agreed on 11 August 2007 to adopt the
recommendations of the India-Malaysia Joint Study Group Report; and
Recognising that our respective officials have concluded the
negotiations towards the India-Malaysia Comprehensive Economic Cooperation
Agreement which includes trade in goods, services and investment, and economic
cooperation;
Agree as follows:
Trade In Goods
The market access commitments under the CECA provide for more liberal tariff
concessions, including faster timelines and reduced exclusion lists, than in the
ASEAN-India Trade in Goods Agreement. The CECA contains trade facilitative
provisions covering Rules of Origin, SPS/TBT Measures, Customs Cooperation and
Trade Remedies.
Trade in Services
The CECA will progressively liberalise trade in services on a preferential
basis, with substantial sectoral coverage, including Movement of Professionals
and Skilled Persons, Cross-border Supply, and Telecommunications Services to
provide commercially meaningful market access.
Investment
The CECA includes commitments leading to progressive liberalisation of
investment regimes in order to promote investments and create a liberal,
facilitative, transparent and competitive investment regime. The CECA would also
serve to strengthen cooperation in investment, improve transparency of
investment rules and regulations, and provide for the protection of investments.
Areas of Economic Cooperation
The CECA includes economic cooperation in areas such as infrastructure
development, creative industries, tourism, SMEs, business facilitation, science
and technology, and human resource development.
Timeframes
The Parties will sign the CECA by 31 January 2011 and shall implement the
CECA by 1 July 2011.
IN WITNESS WHEREOF, WE have signed this Agreement towards
Implementing Comprehensive Economic Cooperation Agreement between the Republic
of India and Malaysia on 1st July 2011.
DONE at Kuala Lumpur, this 27th day of October,
2010 in duplicate copies in the English Language.
FOR THE GOVERNMENT
OF THE
REPUBLIC OF INDIA |
FOR THE GOVERNMENT
OF
MALAYSIA |
(Anand Sharma)
Minister of Commerce
and Industry |
(Mustapa Mohamed)
Minister of International
Trade and Industry |