Financial Daily from THE HINDU group of publications
Thursday, Nov 13, 2003

Port Info

Group Sites

Industry & Economy - Foreign Trade

Indo-Singaporean trade pact by April

Our Bureau

Mr Tong said the agreement would cover a broad spectrum of areas, including goods, services, investments and air services. "With the agreement, Singapore can act as a catalyst for India's economic reform process," he said.

(From left) Mr Rajender Darda, Minister of State for Home, Maharashtra Government, with Mr Yeo Cheow Tong, Minister for Transport, Singapore Government, and Mr Gopinath Pillai, Chairman, Gateway Distripaks Ltd, at a function to commission the phase 3 of Gateway Distriparks Dronagiri operations near Jawaharlal Nehru Port in Navi Mumbai on Wednesday. — Paul Noronha

Mumbai , Nov. 12

BI-LATERAL trade between India and Singapore is set to surge with the two countries scheduled to conclude the Comprehensive Economic Cooperation Agreement (CECA) by April, according to Mr Yeo Cheow Tong, Singapore Minister for Transport.

Inaugurating the third phase expansion of Gateway Distriparks Ltd, an Indo-Singapore joint venture company engaged in providing total logistics solutions, Mr Tong said the on-going discussions for drafting the agreement was "progressing well".

He was confident that the Prime Ministers of the two countries would sign the "landmark agreement" by April.

According to him, the agreement would cover a broad spectrum of areas, including goods, services, investments and air services. "With the agreement, Singapore can act as a catalyst for India's economic reform process," he said.

Mr Tong said bi-lateral trade between Singapore and India has been strong, nearly touching the $ 4-billion mark in 2002. Currently, India is Singapore's 15th largest trading partner, he said. Singapore has also been an active investor in the country, with cumulative investments totalling $ 1.4 billion, covering sectors ranging from logistics and industrial parks to telecommunications, he added.

Later talking to presspersons, he said the CECA would go even beyond the Free Trade Agreement regime in boosting bi-lateral trade between the two countries.

Replying to a question, he said the Singapore Changi Airport Enterprise was looking for possible investments in the Delhi and Mumbai airport development projects. "Changi airport officials have already visited India and we had talks with the Ministry of Civil Aviation. Once bids are invited (for development of the two airports), we will surely participate," he said.

Article E-Mail :: Comment :: Syndication

Stories in this Section
`Pension reforms should cover more people'

AMGF Intercorp launches FMCG awards
Manufacturing aids industry post 6.5 pc growth in Sept
Engg expo to showcase SSI units as vendors
Indo-Singaporean trade pact by April
`Telemedicine can boost healthcare reach'
White kerosene proves lucrative for racketeers
Nicholas Piramal quits pharma alliance
Rs 10,000 cr set aside to update power plants
Move to assess small hydropower potential in Kerala
Meet discusses steps to avoid blackouts in western region
Case made out for MAT withdrawal
Truck, bus tyre production up in Sept
Realtors express concern over eco ministry's notification
AP tax incentive to aluminium cos
Plan to develop Maharashtra as biotech destination
After Jayalalithaa's statement — The Hindu withdraws request for CISF cover
IOC, ONGC equity offer in domestic market proposed
Natco to challenge grant of exclusive rights to Novartis cancer drug
AP: Rural employment schemes
Campaign to issue birth certificates
Facilities management biz gaining ground in Bangalore
`Human chain' to protest TN House order
Impose ceiling on tax-free donation
Used photocopiers, ACs, gensets can't be imported under EPCG
Tea exports to Pak pegged at 6 mkg
Western Coalfields sees lower output on unviable mines

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |

Copyright 2003, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line