The Comprehensive Economic Cooperation Agreement (CECA) between India and Malaysia is an agreement that aims to promote economic cooperation between the two countries. It was signed in 2010 and came into effect in 2011. The agreement covers a wide range of areas such as trade in goods, services, investments, and intellectual property rights.
The CECA agreement has several provisions that encourage bilateral trade between India and Malaysia. One of the key provisions is the elimination of tariffs on goods traded between the two countries. This has led to an increase in bilateral trade and has been beneficial for businesses in both countries.
The CECA also includes provisions for the protection of intellectual property rights. This is important for companies that operate in sectors such as pharmaceuticals and technology. The agreement provides a framework for the protection of their patents, trademarks, and copyrights.
Another important provision of the CECA is the promotion of investments between India and Malaysia. The agreement provides a conducive environment for investors from both countries to invest in each other`s markets. This has led to an increase in foreign direct investment (FDI) in both countries.
The CECA agreement has also led to an increase in the flow of services between India and Malaysia. The agreement provides greater market access for service providers in both countries. This has led to an increase in trade in sectors such as information technology, financial services, and healthcare.
Overall, the CECA agreement has been beneficial for both India and Malaysia. It has led to an increase in bilateral trade and investment, and has provided a conducive environment for businesses in both countries. The agreement has also strengthened the economic ties between the two countries and has paved the way for further cooperation in the future.