| |
| |
![]() |
| |
|
| |
|
| |
|
NEW DELHI: Singapore wants to hasten cooperation with India on three areas – the India-ASEAN Free Trade Agreement, India-ASEAN open skies policy, and a Special Economic Zone (SEZ) in India.
Senior Minister Goh Chok Tong said on Thursday this would mutually benefit both countries and increase trade and investments.
At a lunch hosted by the Indian Chambers of Commerce and Industry, Mr Goh noted that India will grow its economy by double digit in the next few years and more can be done to speed up the progress.
Three areas of cooperation were singled out: An India-ASEAN Free Trade agreement, an India-ASEAN open skies policy, and a Special Economic Zone in India that targets the Japanese market.
Mr Goh said that since the signing of the Comprehensive Economic Cooperation Agreement (CECA), bilateral trade between both countries has shot up, growing at about 40 percent last year. An India-ASEAN Free Trade Agreement is something he would like to encourage to boost that number further.
This can also be achieved in the aviation industry by implementing an India-ASEAN open skies policy.
He said: "ASEAN has an open skies policy which I think will be implemented soon, so I hope India will consider doing an India-ASEAN open skies agreement. This would mean that India will become part of this ASEAN open skies policy, which will lead to a freer flow of passengers, cargo and investments."
Attracting investments – particularly those from Japan – is one area Singapore and India can work on by building a Special Economic Zone.
Mr Goh said: "The strength that we have is the knowledge of what MNCs would like to have when they invest in other countries because Singapore was grown on the back of MNCs. We know the challenges and the requirements that need to be overcome in countries in the region.
"The idea of an SEZ is to enable us to help India attract investments, and Japan is a country that we are targeting. We can also sense that Japan is looking outward beyond China, beyond Vietnam, into new areas and India is a natural choice for the Japanese."
Mr Goh had mooted the idea of building a Special Economic Zone in India during his visit to the country two years ago. Singapore has successfully built such zones in Vietnam and China.
The senior minister is on a six-day visit in India to identify new opportunities for investment in India's northern states. He will meet Prime Minister Dr Manmohan Singh on Friday.
Mr Goh has already met his fellow member of the Commission on Growth and Development, Mr Montek Singh Ahluwalia, who is also the deputy chairman of India's Planning Commission. They last met at a meeting in Suzhou, China in November last year.
During the meeting on Thursday, which lasted about an hour, Mr Goh and Mr Montek Singh exchanged views on the economic challenges facing India.
The senior minister also met up with Mr L K Advani, leader of the Opposition in the Lok Sabha (House of the People), at his residence, and they exchanged views on the challenges facing India and recent developments in the region.
- CNA/so
|
