- POSTED: 10 Oct 2013 18:48
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The ASEAN-India Services and Investment Agreements have been finalised and that is a major milestone completing the ASEAN-India Free Trade Agreement (FTA), says Prime Minister Lee Hsien Loong.
BANDAR SERI BEGAWAN, BRUNEI: The ASEAN-India Services and Investment Agreements have been finalised and that is a major milestone completing the ASEAN-India Free Trade Agreement (FTA).
Singapore's Prime Minister Lee Hsien Loong made this point during the ASEAN-India Summit in Brunei.
Mr Lee said the FTA will help achieve the target of
US$100 billion in trade by 2015.
And with the completion of the free trade agreement, India can now take part in the Regional Comprehensive Economic Partnership or RCEP.
But Mr Lee hopes more can be done to complete the ASEAN-India Air Transport Agreement as India is one of the top ten sources of tourists in ASEAN.
A comprehensive air transport agreement will boost tourism and trade between ASEAN and India and bring the regions closer together.
Hence, Mr Lee has called on both sides to give the negotiators the full mandate to conclude a mutually beneficial agreement.
Indian Prime Minister Dr Manmohan Singh thanked both ASEAN and East Asia Summit participating countries for their support for the establishment of Nalanda University as an international institution of excellence.
Singapore was among several countries which took part in the process of signing the inter-governmental Memorandum of Understanding on the Nalanda University on the sidelines of the ASEAN Summit.
Dr Manmohan Singh said academic sessions at the university are set to begin next year and he hopes students and faculty from all East Asia Summit participating countries will participate in the exciting venture.