The negotiations between Malaysia and India over a Free Trade Agreement (FTA) are expected to be finalised by the end of this year, with the FTA firmly in place by 2009, it was announced on Tuesday.
Negotiations began in January 2008, following a visit by India's Defence Minister to the Malaysian Ministry of International Trade.
Since then, talks between the two countries on the matter have been ongoing, which was confirmed this week when Malaysia's Deputy Minister of International Trade and Industry, Datuk Liew Vui Keong, suggested that the FTA will provide tax breaks for furniture manufacturers in Malaysia, adding:
"We expect to conclude by year-end and the FTA will come into force next year."
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