Qa'dah 19, 1431, Oct 27, 2010, SPA -- Seeking to give new impetus to the bilateral relations, India and Malaysia on Wednesday formally announced firming up of Comprehensive Economic Cooperation Agreement (CECA) to boost trade and decided on a range of other engagements in various sectors. The two sides signed five pacts in various areas after wide-ranging talks between Indian Prime Minister Manmohan Singh and his Malaysian counterpart Mohd Najib Tun Abdul Razak and resolved to impart strategic dimension to their relations. Signing a document with regard to announcement of CECA, the two leaders said the agreement, aimed at allowing freer movement of goods, services and investments, would come into effect on July 1 next year. "Today (Wednesday) marks a turning point in India, Malaysia relations," Singh told a press conference after the meeting. He said the discussions with Razzak had laid the basis for multi-faceted partnership between the two countries. On his part, Razzak said Malaysia would be happy to share India's economic success and join its journey for economic development of the country. "We must give new impetus to this relationship. I indicated to Prime Minister Singh that Malaysia is ready for deeper and more intensive relationship," he was quoted as saying by the Press Trust of India. Razzak said the two countries have set a trade target of $15 billion by 2015 and expressed confidence CECA will help achieve it.
