Indian Prime Minister Narendra Modi on Friday said that India and Singapore will soon upgrade their Comprehensive Economic Cooperation Agreement (CECA) following a bilateral summit with his Singaporean counterpart Lee Hsien Loong here.
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“We are happy with the second review of the Comprehensive Economic Cooperation Agreement,” Modi said in a joint address to the media with Lee following the summit.
“Officials from both our countries will soon discuss how to upgrade this agreement,” he said.
India and Singapore signed the CECA in 2005. Singapore is the first country with which India signed such a treaty.
On his part, Lee said that bilateral trade between India and Singapore has doubled S$25 billion since the CECA came into effect.
He also said that, as the current chair of the Association of Southeast Asian Nations (Asean), Singapore will work with India in the regional security architecture.
Modi arrived here on Wednesday on the third and final leg of his five-nation tour of southeast Asia.
This is his second visit to Singapore as Prime Minister.
We have been able to conclude successfully the second review of comprehensive economic cooperation agreement but we agreed this is not just our target and goal but this only means to an end & officials will soon start discussing how to reform and upgrade this further: PM Modi pic.twitter.com/oJlNC7HJxT
— ANI (@ANI) June 1, 2018
PM Narendra Modi and PM of Singapore Lee Hsien Loong witness exchange of agreements between India & Singapore pic.twitter.com/0bnfnVC6S1
— ANI (@ANI) June 1, 2018
Our defence ties have strengthened, our navies have signed an agreement today on logostics cooperation and will also celebrate 25th anniversary of annual Singapore-India maritime bilateral exercise this year: PM of Singapore Lee Hsien Loong pic.twitter.com/4aqivEhRiK
— ANI (@ANI) June 1, 2018
