PM Modi addresses Asian Business Leaders Conclave in KL, Malaysian PM calls Modi a good reformist

Prime Minister Modi, who joined the Conclave through video conferencing, said that the fact that Economic Times has chosen Kuala Lumpur as the venue for this Conclave proves the importance of Malaysia as a commercial and business destination.

Tweeted the Indian Prime Minister's Office, "It is a great pleasure to jointly inaugurate Economic Times Asian Business Leaders Conclave 2016 with His Excellency the PM of Malaysia: PM."

In his address, Modi said, "The leaders of ASEAN countries have led efforts for better integration among the countries of the region. This initiative to bring the business leaders of Asia together is therefore very timely."

"Despite unfavourable and uncertain global economic environment, the growth prospects of the Asian region have been a ray of hope, said PM Modi.

In his address Modi pointed out, "India is currently witnessing an economic transformation. It is not only one of the fastest growing large economies in the world. It is also marked by initiatives centered around ease of doing business, making governance transparent and efficient, and reducing regulatory overburden."

"Presently, cleaning the system from black money and corruption is very high on my agenda," emphasised Prime Minister Modi.

Close relations with Malaysia are integral to the success of our Act East Policy.

Addressing the Conclave, Malaysian Prime Minister Najib Razak said that he found Prime Minister Modi to be a " good reformist", reported the media.

The Malaysian PM said, "“If you are courageous enough to implement reforms, you will reap the rewards," according to media reports.

Prime Minister Modi said that under the leadership of PM Najib Razak, Malaysia is moving towards its goal of achieving developed country status by 2020.

"In recent times, we have forged a Strategic Partnership. My visit to Malaysia in November last year served to reinforce this strategic engagement across a range of areas," said Modi.

Talking about the Indian community in Malaysia, Modi said, "The timeless ties between India and Malaysia are reinforced by the presence of a large Indian community. A recent symbol of our historic links is the Torana Gate in the heart of Kuala Lumpur, which connects two great nations and two great cultures."

A little over a year ago, PM Narendra Modi inaugurated the Torana Gate with PM Najib Razak in Kuala Lumpur, Malaysia.

Prime minister of Malaysia is scheduled to visit India next year.