Hyderabad, July 24th, 2024: The Federation of Telangana Chambers of Commerce and Industry (FTCCI) organised an interactive meeting with Ms Shamilah Perumal, Hon’ble Minister (Economic Affairs), High Commission of Malaysia on Tuesday at Federation House in Red Hills.
Ms. Shamilah Perumal, Hon’ble Minister (Economic Affairs), High Commission of Malaysia, addressed the gathering as a Special Guest. She announced a new collaborative platform between the governments of India and Malaysia to enhance the startup ecosystem between the two countries. This initiative builds on the Malaysia-India Comprehensive Economic Partnership Agreement (CEPA) and focuses on key sectors like palm oil. Malaysia emphasizes a market-driven pricing mechanism for palm oil and addresses concerns about high import duties imposed by Indian Customs.
This platform signifies a new level of cooperation, moving beyond conversations to tangible actions, thereby supporting the entrepreneurial ecosystem and enhancing economic ties. She informed the participants that for any further support, they may contact the High Commission.
In his welcome address, the President of FTCCI, Sri Suresh Kumar Singhal, highlighted the strong historical partnership and growing trade ties between India and Malaysia. He mentioned that Malaysia is India’s third-largest trading partner in ASEAN, while India is Malaysia’s largest trading partner in Southeast Asia. India’s growing economy offers immense opportunities for exporters. He expressed the goal of reducing the trade gap and encouraging more exports from India, especially Telangana. He also welcomed Malaysia’s support in strengthening economic cooperation between our nations.
Sri AVPS Chakravarthi highlighted the strong partnership between India and Malaysia, emphasizing Malaysia’s important role in India’s Act East policy. He noted that while trade between the two countries has increased, the trade gap favoring Malaysia is a concern. He called for boosting Indian exports, especially from Telangana, and attracting Malaysian investments. He also stressed the need to address non-tariff barriers and invited Malaysia to participate in the upcoming trade conference to strengthen economic ties
Sri R. Ravi Kumar, Sr. Vice President of FTCCI, proposed the vote of thanks. Smt. T. Sujatha, Sr. Director of FTCCI, Co-Chairs of the IT & BR Committee, MC Members, and others, including approximately 30 investors, entrepreneurs, and business leaders, attended the meeting.