India and Malaysia on Friday signed a landmark pact that paves the way for freer flow of trade in goods and services, besides enhanced investment and economic cooperation between the two countries.
Malaysia and India are expected to sign a free trade agreement during Prime Minister Manmohan Singh's visit to that country later this year.
India and the 10-member-group signed the landmark agreement on Thursday in Bangkok. Malaysia International Trade and Industry Minister Mustapa Mohamed said 71 per cent Malaysian goods would enjoy duty-free access to India by 2013 and another 9 per cent by 2016, while tariffs for the remaining 10 per cent would come down to 5 per cent.
