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India Malaysia Comprehensive Economic Cooperation Agreement: Key Details and Implications

The India Malaysia Comprehensive Economic Cooperation Agreement

Law enthusiast, thrilled discuss The India Malaysia Comprehensive Economic Cooperation Agreement (CECA). This agreement has significantly impacted the economic relationship between India and Malaysia, and I am excited to delve into the details.

Overview of the India Malaysia CECA

The India Malaysia CECA is a bilateral free trade agreement aimed at boosting economic cooperation between the two countries. It covers various sectors including trade in goods and services, investment, economic cooperation, and technical barriers to trade.

Benefits Impact

CECA led substantial increase trade India Malaysia. According to statistics from the Ministry of Commerce and Industry, Government of India, bilateral trade between the two countries stood at USD 17.25 billion in 2020-21, reflecting the growing economic ties facilitated by the agreement.

Trade Goods

Let`s take look trade goods CECA. The table below outlines the top commodities traded between India and Malaysia in recent years:

Commodity India`s Export Malaysia (USD Million) India`s Import Malaysia (USD Million)
Petroleum Products 1,200 800
Chemicals 600 400
Vegetables 300 200

Investment

CECA also facilitated investment India Malaysia. The two countries have seen increased cross-border investments in industries such as technology, renewable energy, and manufacturing.

Challenges and Resolutions

While the India Malaysia CECA has brought about numerous benefits, it has also faced challenges, particularly in the area of market access. Both countries have been working to address these challenges through negotiations and dialogues to ensure a balanced and mutually beneficial trade relationship.

As I conclude this discussion, I am inspired by the positive impact of the India Malaysia CECA on the economic landscape of both countries. It is evident that the agreement has paved the way for increased trade and investment, and I am eager to witness the continued growth of the bilateral relationship in the years to come.

Frequently Asked Legal Questions The India Malaysia Comprehensive Economic Cooperation Agreement

Question Answer
1. What The India Malaysia Comprehensive Economic Cooperation Agreement (IMCECA)? The IMCECA is a bilateral trade agreement between India and Malaysia aimed at enhancing economic cooperation in various sectors such as trade in goods and services, investment, intellectual property, and dispute settlement.
2. What key provisions IMCECA? The IMCECA includes provisions for the elimination of tariffs on certain goods, cooperation in the field of intellectual property rights, facilitation of investment, and mechanisms for resolving disputes between the two countries.
3. How IMCECA impact trade India Malaysia? The IMCECA aims to boost bilateral trade by reducing trade barriers, enhancing market access, and promoting a more conducive business environment for traders and investors from both countries.
4. What are the implications of the IMCECA for intellectual property rights? Under the IMCECA, both India and Malaysia have committed to providing protection for intellectual property rights, including patents, trademarks, copyrights, and trade secrets, in order to foster innovation and creativity.
5. How does the IMCECA address investment concerns between India and Malaysia? The IMCECA includes provisions for the promotion and protection of investments, dispute settlement mechanisms, and the facilitation of cross-border investment flows to enhance economic cooperation between the two countries.
6. What are the dispute resolution mechanisms under the IMCECA? The IMCECA provides for the settlement of disputes through consultation, negotiation, and mediation, with the option of resorting to arbitration or other mutually agreed upon means of dispute resolution if necessary.
7. How does the IMCECA impact the services sector in India and Malaysia? The IMCECA aims to promote cooperation and market access in the services sector, including areas such as telecommunications, financial services, professional services, and movement of natural persons.
8. What are the potential benefits of the IMCECA for small and medium-sized enterprises (SMEs) in India and Malaysia? The IMCECA seeks to provide opportunities for SMEs to expand their market reach, access new technologies, and participate in regional and global value chains, thereby contributing to economic growth and development.
9. What are the challenges and limitations of the IMCECA in promoting economic cooperation between India and Malaysia? While the IMCECA offers various opportunities for economic cooperation, challenges such as regulatory differences, non-tariff barriers, and geopolitical considerations may impact the full realization of its potential benefits.
10. What future prospects The India Malaysia Comprehensive Economic Cooperation Agreement? The IMCECA presents opportunities for further deepening and broadening economic cooperation between India and Malaysia, with the potential for expanding trade and investment linkages, fostering innovation, and creating mutual economic prosperity.

The India Malaysia Comprehensive Economic Cooperation Agreement

Parties: India Malaysia

Introduction:

Whereas India and Malaysia (hereinafter referred to as “Parties”) desire to promote and strengthen economic cooperation between the two countries;

Whereas the Parties intend to establish a comprehensive economic cooperation agreement to facilitate trade, investment, and other economic activities;

Now, therefore, Parties agree follows:

Article 1 Scope Agreement
Article 2 Trade Investment
Article 3 Intellectual Property Rights
Article 4 Dispute Resolution
Article 5 Amendments
Article 6 Termination

IN WITNESS WHEREOF, the undersigned, being duly authorized by their respective governments, have signed this agreement on the date and place first above written.