From security cooperation to bilateral payment linkages: India, Malaysia sign six key pacts
Kuala Lumpur: Prime Minister Narendra Modi and Malaysian Prime Minister Anwar Ibrahim on Sunday oversaw the signing of six major agreements between India and Malaysia, as both nations moved to further strengthen cultural, economic and strategic cooperation during bilateral engagements in Kuala Lumpur.
The agreements were finalised following comprehensive discussions between the two leaders during PM Modi’s two-day official visit to Malaysia.
The visit marked a significant milestone in advancing the Comprehensive Strategic Partnership between the two countries, according to the Ministry of External Affairs (MEA).
During their talks, both leaders explored avenues to enhance collaboration across a broad spectrum of sectors, including trade, investment, semiconductors, defence, security, maritime cooperation, energy, renewable resources, tourism, cultural exchanges, as well as digital and emerging technologies.
Both leaders shared the intent to expand cooperation across both traditional and new-age sectors of mutual interest.
Several important bilateral agreements and memoranda were exchanged during the visit, covering areas such as security cooperation, participation in United Nations peacekeeping initiatives, semiconductor development, healthcare and medicine, disaster management, anti-corruption efforts, audio-visual co-production, vocational education, and social security arrangements for Indian workers in Malaysia.
During the visit, Prime Minister Modi also announced the establishment of a dedicated Thiruvalluvar Centre at Universiti Malaya, along with the introduction of Thiruvalluvar scholarships.
The initiative is aimed at promoting the teachings and philosophy of the ancient Tamil poet and philosopher Thiruvalluvar, while also strengthening cultural exchanges and people-to-people ties between India and Malaysia, the MEA said.
The Prime Minister further announced India’s decision to open its first Consulate in Malaysia, a move expected to enhance diplomatic engagement, strengthen bilateral relations and provide improved support to Indian citizens residing in or visiting the country.
Among the agreements signed, cooperation between the University of Cyberjaya and ITRA Jamnagar was highlighted as a key development.
According to the MEA, this partnership will focus on traditional medicine and is expected to facilitate research and academic exchange in Ayurveda, along with expanding access to holistic healthcare practices and knowledge sharing between the two countries.
As part of efforts to improve overall connectivity and economic integration, National Payments Corporation of India’s subsidiary, NIPL, and Malaysia’s PayNet have agreed to collaborate on establishing bilateral payment linkages, including integration through the Unified Payments Interface (UPI).
The initiative is expected to improve ease of doing business and provide seamless, low-cost remittance and payment solutions for tourists, students and business communities operating between the two nations.
In another significant development, Malaysia has completed all necessary formalities for joining the International Big Cat Alliance, an initiative aimed at global conservation of big cat species and biodiversity protection.
Additionally, the report of the 10th India-Malaysia CEO Forum was presented to the two leaders during the visit. The forum’s report is expected to provide recommendations and insights to strengthen business-to-business collaboration and expand trade and investment opportunities between India and Malaysia, further deepening economic engagement between the two countries.