NEW DELHI: India and China should take the lead in enhancing regional economic cooperation in Asia, Malaysian Foreign Minister Syed Hamid Albar said at a track-two Malaysia-India strategic dialogue on Tuesday.

Pointing out that India and Malaysia held common positions on many international issues, the Foreign Minister, who was here recently for bilateral talks, said India had been a constructive dialogue partner for the Association of Southeast Asian Nations.

According to him, Prime Minister Abdullah Ahmad Badawi travelled to India in December 2004 and now Malaysia was awaiting a visit by Prime Minister Manmohan Singh. And this time, it should not be to attend another multilateral summit, but a standalone, bilateral visit to Malaysia.

Mr. Hamid said at present Malaysia was India's second largest trading partner in ASEAN, with two-way trade amounting to $6.5 billion in 2006, an increase of about 24 per cent over 2005.

Welcoming more investments from Indian companies, the Foreign Minister was hopeful that the two countries would be able to commence negotiations on a comprehensive economic cooperation agreement soon.

Open economy

According to him, vibrant growth and an open economy in India would contribute to a more stable Asia. "Malaysia is pleased to see India playing a leading role in the East Asia Summit," he said.

Mr. Hamid maintained that both Malaysia and India were committed to multilateral diplomacy to address international issues. Malaysia also looked forward to strengthening the voice of developing world through the Non-Aligned Movement and the G-15 grouping.

The strategic dialogue was organised by the Indian Council of World Affairs and the Institute of Strategic and International Studies (ISIS), Malaysia.

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