India and Malaysia To Collaborate In Digital, Fintech & Semiconductor Sectors

New Delhi, Nov 8 (KNN) India and Malaysia are exploring new avenues for cooperation in digital, fintech and semiconductor sector, according to a report in the Hindustan Times.

In this regard, India’s external affairs minister S Jaishankar and his Malaysian counterpart Zambry Abdul Kadir co-chaired the bilateral Joint Commission Meeting (JCM) on Tuesday.The JCM met after a gap of 12 years. The last JCM was held in Kuala Lumpur in 2011.

Speaking on the occasion, Jaishankar said, “Malaysia, today is a very crucial strategic partner for us. We are among your top 10 trading partners and you are our third largest trading partner in Asean.”

“The meeting is an opportunity to explore new areas like digital, renewable energies, semiconductors and space,” he said.

Kadir, who is visiting India for the first time in his capacity as foreign minister, said that the two sides would explore more areas of cooperation and collaboration for now and the future.

After the meeting, Jaishankar posted on X that the two sides had reviewed progress in their cooperation in defence, security, trade, health, energy, education, tourism and people-to-people ties.

“Also shared perspectives on the Indo-Pacific, ASEAN, West Asia and other regional and global issues,” he added.

The two foreign ministers witnessed the signing of a memorandum of understanding for cooperation between Prasar Bharti and Radio Television Malaysia (RTM), and another agreement between the Sushma Swaraj Institute of Foreign Service and Malaysia's Institute of Diplomacy and Foreign Relations on cooperation in the training of diplomats.

India and Malaysia marked 65 year of diplomatic ties in 2022. The ties were elevated to an enhanced strategic partnership in 2015 and the two sides issued a roadmap for cooperation in 2017.

In 2022, India was Malaysia’s 11th largest trading partner, with total trade amounting to USD 19.63 billion, an increase of 23.6 per cent compared to the value recorded in 2021.

(KNN Bureau)