India, Singapore to upgrade trade cooperation pact

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Singapore, June 1 (IANS) 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.

“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.

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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.

–IANS

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