Beginning Of A New Journey Of Trade And Economic Cooperation: Patowary

Assam Industries and Commerce Department signs MoU with MIBC, Malaysia


With an aim to explore and improve the two-way trade and investment between India and Malaysia, the Assam Industries and Commerce department and Malaysia India Business Council (MIBC) inked a Memorandum of Understanding on November 10th, 2019.

Speaking on the occasion, the Industries and Commerce Minister Chandra Mohan Patowary said that the MoU will help in embarking a new journey of exploring opportunities and pitching an investment in the potential sectors.

Assuring help and cooperation, Patowary called attention to the Malaysian delegation to invest in sectors like infrastructure, health care, food processing, tea tourism cum golf tourism, bamboo and agar which are supported by investment-friendly policies like state industrial policy, sugar policy, IT policy, export and logistics policy.

Photo credit: @cmpatowary

The Minister requested MIBC to open a Malaysian consulate in Guwahati and start flight connectivity between Guwahati and Kuala Lumpur. “Though we are divided by boundaries, our roots are the same. It’s the heart to the heart connection we share and with the philosophy of Atithi Devo Bhava – the guest is god, we will work together in each other’s states at the industrial sectors,” he added.

Terming the MoU as a historical milestone, Tan Sri Ir Kuna Sittampalam, president of MIBC said that Northeast can be the food basket for Malaysia as the country imports varieties of food items from India. He further said that apart from the historical perspective, a comprehensive business agreement between India and Malaysia was signed in 2011 and since then the trade between the two countries has increased from USD 8 billion to USD 17.24 billion in 2018-19.

Photo credit: @cmpatowary