THIRD ROUND OF NEGOTIATIONS ON INDIA-SINGAPORE ECONOMIC COOPERATION HELD
Date : 19 Aug 2003
Location : New Delhi
The Third Round of Negotiations on the Comprehensive Economic Cooperation Agreement between India and Singapore was held here on 16th, 17th and 18th August, 2003. The Singapore delegation was led by Mr. Heng Swee Keat, Permanent Secretary for Trade & Industry and the Indian side by Shri Dipak Chatterjee, Commerce Secretary. Discussions were held on a wide range of issues relating to investment and trade in goods and services. Both sides explored investment project opportunities in Indian airports and ports. The CII and FICCI have decided to launch joint missions to third countries in areas of mutual interest. CII is planning to set up a second India centre.
The discussions also covered financial services, the free trade agreement in goods including anti-dumping, safeguards and rules of origin. A dispute settlement mechanism is being negotiated and areas of customs cooperation are being identified. The services sector discussions covered the framework text, as well as areas of cooperation in IT, telecom, science & technology, biotechnology, financial services, air services, tourism and education.
On the Singapore-India Fund, an in-principle agreement was reached on key elements of its structure for realising substantial increase in real investment in India.
The next meeting is scheduled to be held in Singapore from 22nd – 24th September, 2003.