Comprehensive Economic Cooperation Agreement Between India And Malaysia
India-Malaysia trade reached $10 billion in 2010-11, a 26% increase over the previous year. Implementation of this agreement is expected to increase bilateral trade to $15 billion by 2015. The Indie-Malaysia ECSC also facilitates cross-border investment between the two countries. The aim is to encourage investment and to establish a liberal, easy-to-be, transparent and competitive investment system. The ECSC creates an attractive operating environment for businesses in both countries to increase bilateral trade and bilateral investment. MICECA is a comprehensive agreement covering trade in goods, trade in services, investment and the transport of individuals. It increases the benefits of the ASEAN-India Trade Agreement (AITIG) and will continue to facilitate and improve trade, services, investment and economic relations in both sectors in general. The Comprehensive Economic Cooperation Agreement between India and Malaysia (ECSC) will enter into force on 1 July 2011. The In india-Malaysia ECSC is India`s fourth bilateral comprehensive economic cooperation agreement after Singapore, South Korea and Japan. The ECSC provides for the liberalization of trade in goods, services, investment and other areas of economic cooperation. As part of the ECSC service agreement, India and Malaysia have provided economically viable commitments in transport sectors and modes, which are expected to lead to increased trade in services.
The ECSC also facilitates the temporary free movement of businessmen, including contract service providers, and independent professionals in economically viable sectors such as accounting and auditing, architecture, urban planning, engineering, medicine and dentistry, nursing and pharmaceuticals, computers and related services (SIR) and management consulting services. Exports fell by 7.0% to $7.13 billion ($29.44 billion.RM) from $8.12 billion ($31.67 billion.RM) in 2015; Mrs Nurfadhilah Syamimi Julaihi (Melaka) DL: 06-2530069 E-mail: email@example.com . Malaysia obtained better concessions on palm oil and palm oil products under MICECA: trade with India was $10.77 billion ($44.50 billion.RM) out of $12.02 billion ($46.80 billion.RM), down 4.9% from 2015; It has changed significantly in the sense of changing the tariff classification in the six-digit HS sub-position (STC); AND For Preferential Certificate of Origin / Rules of Origin related matters, please contact: Better seen with Internet Explorer 10 and higher with resolution 1280 x 800 . India has committed to 49-100% participation in 84 service subsectors, including the free economy, health, telecommunications, retail and environmental services. In return, Malaysia has committed to allowing Indian foreign holdings in 91 service sectors. India will commit tariffs on refined palm oil (RPO) to 45% by 31 December 2018 (one year earlier than the timetable for India`s IATIG Commitment). India will increase tariffs on 3 palm products to 45% by 31 December 2018 (these three products have been excluded from tariff concessions under AITIG). . Malaysia and India concluded the Malaysia-India Comprehensive Economic Cooperation Agreement (MICECA) on 24 September 2010. It must be fully purchased in the country of origin; OR products on the Indian Exclusion List (EL) may not benefit from a reduction or removal of duties in accordance with the MICECA Regulation. The Indian importer would have to pay the duty on the basis of the current MFN rate.
Content qualifying value no less than 35% of THE FOB value . . . . Interested people can check the specific rules for your product in the following links. MICECA also includes a chapter that facilitates the temporary entry of installers and service providers, contract providers, independent professionals and business visitors (including potential investors) to