Embrace smart partnership, traders told

KUALA LUMPUR: Works Minister, Datuk Seri S. Samy Vellu yesterday wrapped up his week-long visit to three Indian states with a call to the Malaysian and Indian private sector to forge smart and sustainable partnership. 

Addressing the Global Investors Meet 2003 (GIM) in his last leg of his India tour in Cochin, Kerala, the minister said Malaysian and Indian businessmen could benefit through such partnerships and other effective arrangements such as transfer of technology. 

“We (Malaysia) look forward to strengthening our cooperative relationship with India, including the state of Kerala based on sustained partnership,” he said. 

The text of his speech was faxed here yesterday. The GIM 2003 was opened by Indian Prime Minister, Atal Bihari Vajpayee. 

The one-day meeting was attended by investors from around the world. 

Prior to Kerala, Samy Vellu was in the state of Jharkhand and Tamil Nadu. He also participated in the Global Indian Diaspora Conference in New Delhi where he received the “Bharatiya Samman” award from the Indian Prime Minister on Jan 9. 

In Chennai, the capital of Tamil Nadu, Samy Vellu and Chief Minister Jayalalitha exchanged a Memorandum of Understanding to facilitate the Construction Industry Development Board of Malaysia to prepare feasibility reports on two mega projects. 

India is Malaysia’s largest trading partner in South Asia. For the first six months of last year (Jan-June), bilateral trade recorded a value of more than RM4 billion. 

Samy Vellu said given efforts to liberalise further the global trade, the private sector of both countries must not let the opportunity slip by. 

“New avenues and areas of trade and investment must be opened up,” he said. 

Samy Vellu said there remained many areas that both the Malaysian and Indian business community could tap in order to promote further the level of trade and investment link between the two countries. 

He said Kerala, though one of the smallest states in India, offered immense scope for infrastructure development to augment its growing needs in various sectors. 

“Malaysian entrepreneurs (construction companies) have already invested in India and were currently finalising as well as bidding for infrastructure projects in India, including in Kerala. 

“The Malaysian construction industry players are keen to participate in projects in Kerala,” Samy Vellu added. – Bernama 

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