India-Malaysia Comprehensive Economic Cooperation Agreement (Imceca)

This free trade agreement exists between India and Sri Lanka and offers tariff concessions to the governments of both countries. The Export Inspection Board is the only agency to issue certificates of origin under this agreement. MICECA is a comprehensive agreement covering trade in goods, trade in services, investment and economic cooperation. However, this increased competition should encourage our industries to increase their competitiveness through increased productivity and efficient use of resources, by transferring limited resources from less profitable activities to areas where Malaysia has a comparative advantage. In addition, MICECA will help reduce input costs, as Malaysian industry will be able to obtain cheaper inputs in India. This comprehensive economic cooperation agreement exists between the Indian government and Malaysia. The Export Inspection Board is the only agency to issue certificates of origin under this agreement as of July 1, 2011. These preferential regimes/agreements provide for rules of origin that must be respected in order for exports to benefit from tariff preferences. Under the GSTP, tariff concessions are exchanged between developing countries that have signed an agreement. Currently, 46 countries are members of the GSTP, and India has exchanged tariff concessions with 12 countries for a limited number of products. Export Inspection Council (EIC) is the only agency authorized to issue certificates of origin under the GSTP.

(i) The overall nature of MICECA includes chapters on services, investments, economic cooperation, customs, SPS and CTOs. The AITIG applies only to trade in goods. As part of the ECSC service agreement, India and Malaysia have provided economically viable commitments in transport sectors and modes, which are expected to lead to increased trade in services. The ECSC also facilitates the temporary free movement of businessmen, including contract service providers, and independent professionals in economically viable sectors such as accounting and auditing, architecture, urban planning, engineering, medicine and dentistry, nursing and pharmaceuticals, computers and related services (SIR) and management consulting services. The Comprehensive Economic Cooperation Agreement between India and Malaysia (ECSC) will enter into force on 1 July 2011. The In india-Malaysia ECSC is India`s fourth bilateral comprehensive economic cooperation agreement after Singapore, South Korea and Japan. The ECSC provides for the liberalization of trade in goods, services, investment and other areas of economic cooperation. MICECA is a comprehensive agreement covering trade in goods, trade in services, investment and the transport of individuals. It increases the benefits of the ASEAN-India Trade Agreement (AITIG) and will continue to facilitate and improve trade, services, investment and economic relations in both sectors in general.