9 MoUs & agreements signed between India and Malaysia

Aug. 20, 2024, 9:38 a.m.

Read time estimation: 3 minutes.

  1

India and Malaysia formalized their collaboration by signing nine Memorandums of Understanding (MoUs) and agreements at Hyderabad House in Delhi.

The agreements were signed in the presence of Prime Minister Narendra Modi and Malaysian Prime Minister Dato’ Seri Anwar bin Ibrahim. The joint statement issued indicated a strong commitment to strengthening bilateral ties across a wide range of areas.

#WATCH | India and Malaysia exchanged MoUs and Agreements in the presence of Prime Minister Narendra Modi and Prime Minister of Malaysia, Dato’ Seri Anwar bin Ibrahim, at Hyderabad House in Delhi. pic.twitter.com/IuhuaK0yfZ

— ANI (@ANI) August 20, 2024 Advertisement Below mentioned the 9 MOUs and agreements signed:

1. Recruitment, Employment, and Repatriation of Workers

This Memorandum of Understanding (MoU) between the Indian and Malaysian governments aims to simplify the process of recruiting, employing, and repatriating workers, ensuring fair and efficient labor practices.

2. Cooperation in Ayurveda and Traditional Medicine

A formal agreement was reached to foster collaboration in Ayurveda and other traditional medical systems, promoting the sharing of knowledge and practices.

3. Cooperation in Digital Technologies

The two nations committed to increasing cooperation in digital technologies, including financial technology, semiconductors, artificial intelligence (AI), and quantum computing. Notably, they plan to connect India's Unified Payments Interface (UPI) with Malaysia's Paynet.

4. Cultural, Arts, and Heritage Cooperation

A program was launched to encourage collaboration in the areas of culture, art, and heritage, aiming to strengthen cultural exchange and mutual understanding.

5. Tourism Cooperation

The agreement seeks to strengthen cooperation in the tourism industry, focusing on increasing tourist visits and enhancing tourism-related initiatives.

6. Youth and Sports Cooperation

This MoU, signed by the respective ministries of youth and sports, aims to encourage collaboration in youth development and sporting activities.

7. Public Administration and Governance Reforms

The agreement on public administration and governance reforms aims to exchange best practices and support improvements in public governance.

8. Cooperation in Financial Services

A memorandum of understanding (MoU) has been signed between India's International Financial Services Centres Authority (IFSCA) and Malaysia's Labuan Financial Services Authority to enhance mutual cooperation in financial services.

Advertisement 9. Scholarships and Training Programmes

India will allocate 100 scholarships for Malaysian students in advanced courses like cybersecurity and AI under the ITEC programme. Additionally, an Ayurveda Chair will be established at Malaysia’s University Tumko Abdul Rahman, and a Thiruvalluvar Chair will be set up at another Malaysian university.