Chennai-KL Business Council Mooted To Bolster Trade Ties
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By P.Vijian
CHENNAI, Aug 5 (Bernama) — The formation of a Chennai-Kuala Lumpur Business Council has been mooted by Malaysian businessmen, to take the existing trade ties with the south Indian state of Tamil Nadu to a higher level.
The proposal to set up the council came just days after top officials from the southern city of Chennai, Tami Nadu’s capital, and Kuala Lumpur finalised a memorandum of understanding for the twining of Chennai and Kuala Lumpur as sister cities.
“The Chennai private sector hopes for a stronger trade ties with Kuala Lumpur and the proposal to set up a business council would provide a good platform to strengthen existing economic relations,” said Malaysia’s Federal Territories and Urban Wellbeing Datuk Raja Nong Chik Raja Zainal Abidin here.
He said the Federal Territory Foundation would act as a facilitator for the intercity council which would officially take shape later this year when the twinning agreement between both cities is signed.
The minister is leading a 20-member trade delegation to Chennai, where he has held talks with senior politicians and the south Indian business community to promote Kuala Lumpur as a strategic business centre.
“Kuala Lumpur is centrally located to reach the Asean market. It is strategically positioned to service Asean, including China. Malaysia is also the cheapest destination to do business. Cost is still cheaper compared to other countries.
“Kuala Lumpur is now becoming a major Islamic financial centre in the world, so it is easy to link up with China, India and the Middle East,” he said at a business dialogue session organised by the Confederation of Indian Industry (CII).
CII Southern Region Deputy Chairman T.T. Ashok, who headed the Indian business delegation, said the business council would provide “economic synergy” for the business communities from both sides.
Indian businessmen, he said, could tap a range of expertise from their Malaysian counterparts, especially on city infrastructure development.
– BERNAMA
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Filed Under: Business
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