MUMBAI (Reuters) - Malaysia is planning to step up imports from India in an effort to help bring down New Delhi’s trade deficit with Kuala Lumpur, Teresa Kok, Malaysia’s minister of primary industries, said.
Malaysia is in touch with India’s various ministries to identify the commodities that Kuala Lumpur can import, Kok told Reuters late on Thursday.
Currently India, the world’s leading importer of vegetable oils, buys large quantities of palm oil from Malaysia.
Malaysia’s exports to India stood at $10.8 billion in the 2018/19 fiscal, and imports from New Delhi totalled $6.4 billion, according to India’s trade ministry data.
Reporting by Rajendra Jadhav; Editing by Sanjeev Miglani