Putrajaya (Malaysia):  Malaysia is working with like-minded countries such as India to counter the threat of terrorism, Premier Najib Razak said on Tuesday, highlighting the need for timely sharing of intelligence to deal with the menace.

It is important that the two countries ensure timely sharing of information to prevent acts of terrorism from occurring, Najib said, speaking about anti-terrorism collaboration between India and Malaysia.

"We have been very fortunate in Malaysia in the sense that no significant acts of terror like bomb blasts (have occurred) and no loss of lives on such accounts. We have acted in a very timely manner to prevent such acts from occurring," he told a group of visiting India media persons at his office here in the administrative capital of the country.

He said collaboration is very important as "terrorists do not recognise national boundaries" and Malaysia is working with like-minded countries like India to counter the threats.

"From India, principally we would want cooperation in the area of timely sharing of intelligence, so as to prevent horrific acts of terrorism from occurring," Najib said.

On Indo-Malaysian ties, the Prime Minister stressed that the relationship was of strategic importance, requiring leaders from both countries to look into it seriously and said that New Delhi too shared this view.

"We have elevated our strong ties by signing the Comprehensive Economic Cooperation Agreement (CECA) signifying the burgeoning economic trade ties which could soar to 15 million dollars by 2015 from the current 10 million dollars," Najib said.

Najib said the CECA, which went into effect recently, would be reviewed in the future to take stock of the situation post the landmark agreement and hoped that the private sector would be active in promoting India-Malaysia trade.

Najib noted that there were many areas in which Malaysia and India could cooperate like IT. The other fields included oil and gas, tourism, electronics, capital flows, capital market, Islamic finance, biotech and alternative energy.

"Developing infrastructure is our strong point and we are looking for opportunities in India where a massive infrastructure development is underway," he said.

The Prime Minister said that Malaysia was hopeful of an Islamic Banking tie-up with India.

Referring to the current global economic situation, he said Malaysia wanted to see stability. "We don't want a shock to the international financial system and would like a status quo."

He noted that the global financial architecture is evolving and the importance of yuan is becoming evident, adding that Malaysia has an understanding to trade in ringgit with China.

Najib hoped the policies of the West would not lead to a double-digit recession.

He was of the view that recession could be averted with a strong leadership in Europe and the West.

(Agencies)