The Hindu : International / India & World : ``Economic cooperation agreement will bring India, Singapore closer''

Online edition of India's National Newspaper
Monday, Jan 31, 2005

International

International - India & World

``Economic cooperation agreement will bring India, Singapore closer''

By P. S. Suryanarayana

SINGAPORE, JAN. 30. The ``Comprehensive Economic Cooperation Agreement (CECA)'', which Singapore is currently ``negotiating'' with India, ``will bring our economies closer together'', said Lee Hsien Loong, the City-State's Prime Minister, on Saturday.

Responding to felicitations from the Singapore-Indian community over his recent assumption of office as Prime Minister, Mr. Lee said: ``Singapore seeks to prosper by riding on the emergence of China and India, both of which present us with many opportunities. With India opening up, our bilateral trade is booming, tourism is growing, and investments are expanding in both directions.''

Emphasising that both Singapore and India ``are keen to work together for mutual benefit'', he commended the prospective CECA as a new mechanism for closer ties. Although he did not indicate a timeline for the finalisation of the accord, the two countries had reached an advanced stage in their negotiations, according to sources associated with the process on either side.

Mr. Lee said Singapore's Indian community, ``a creative and entrepreneurial group and a great asset to our economy'', was also offering the City-State ``invaluable linkages to South Asian countries.'' The new Institute of South Asian Studies, launched here a few days ago, ``will further strengthen the bridge between Singapore and the South Asian region.''

``For their part, South Asians'', Mr. Lee said, ``see us as a good base to do business in East Asia or even the Asia Pacific.'' So far, nearly 1,400 Indian companies had set up base in Singapore, emerging as the fourth largest contingent among foreign firms. Pointing to Singapore's ``familiarity'' with the language and culture of China and several other states, he said ``few other countries in the world enjoy such entrée into all three of India, China, as well as Southeast Asia.''

Singapore was now ``attracting a healthy inflow of South Asian talent who want to migrate here,'' either directly or from the West, Mr. Lee said. He specifically quoted an Indian immigrant as having written to him that, in Singapore, ``multi-racialism, meritocracy, integrity and efficiency are not just words in the wind mouthed by changeable politicians and passing parties, but are objective standards that leaders are willing to be judged by.''

Presenting political glimpses of Singapore's history and emergence as an independent country in 1965, he commended the broad ``achievements of the Indian community'' here. After independence, Singapore ``was determined to safeguard the minority communities'' and the ``cardinal principle'' of multi-racialism had now been ``maintained for 40 years.'' Ruling out special privileges or ``racial quotas,'', Mr. Lee said: ``If we had been a purely Chinese society, such as Hong Kong or Taiwan, we would have found it much harder to get along with our neighbours. This is a crucial difference which the minority communities make to Singapore.''

P. Thirunal Karasu, Chairman, People's Association Narpani Peravai, M. Rajaram, Chairman, Singapore Indian Chamber of Commerce & Industry, spoke.

Printer friendly page
Send this article to Friends by E-Mail

International

News Update

Stories in this Section

Rice sees tough time ahead

"Columnists paid to back Bush plans"

U.S. to stay in Iraq

Dhaka denies rise of Islamist militancy

Violence mars Hamas victory rally

Oil prices will remain high, says OPEC

U.S. pressure behind Al-Jazeera sale plan?

Bush may block plan for Africa

Inspired by Mandela, British MP speaks out about his HIV

Homework takes teacher to court

U.K. plane crashes in Iraq

Three killed in Kuwait shootout

Jakarta, rebels cut short talks

``Economic cooperation agreement will bring India, Singapore closer''