Current Affair 1:

On 20 August 2024, the Prime Minister of Malaysia, Dato’ Seri Anwar Ibrahim visited India.

Key highlights of the meeting:

1. Both Prime Ministers recognized that the Enhanced Strategic Partnership between India and Malaysia established in 2015 has helped in advancing bilateral ties into a multidimensional one.
2. Malaysia appreciated India’s initiative in hosting the Voice of the Global South Summit (VOGSS), providing a platform by which countries of the Global South could deliberate and address their concerns, interests and priorities as well as exchange ideas and solutions.
3. India appreciated Malaysia’s participation in all three editions of the VOGSS.
4. Both Prime Ministers held discussions on the entire range of bilateral cooperation including political, defence and security cooperation, economic and trade, digital technologies, start-ups, fintech, energy.
5. Both sides agreed to support and expedite the review process of ASEAN- India Trade in Goods Agreement (AITIGA) to make it more effective, user-friendly, simple, and trade-facilitative for businesses.

If we see trade:

India has a trade deficit with Malaysia, with India importing more than it exports.

Major imported items by India from Malaysia:

Major items imported by India from Malaysia include vegetable oils (US$ 1.64 billion) followed by electrical machinery and equipment and parts thereof (US$ 1.07 billion), petroleum products (US$ 1.01 billion), nuclear reactors, boilers, machinery, and mechanical appliances; parts thereof (US$ 659 million) and organic chemicals (US$ 341 million) from April-November 2023.

Major exported items from India to Malaysia

Major exported items from India to Malaysia include engineering goods (US$ 1.23 billion), petroleum products (US$ 1.03 billion), organic and inorganic chemicals (US$ 371 million), meat, dairy and poultry products (US$ 336 million) and others (US$ 246 million), etc. during April-November 2023.

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