Financial Daily from THE HINDU group of publications
Tuesday, Sep 09, 2003
Financial Daily from THE HINDU group of publications Tuesday, Sep 09, 2003 |
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Industry & Economy
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Foreign Trade Scope for more trade with Singapore underscored Our Bureau
Mr Mah Bow Tan, Minister for National Development, Singapore, with Mr P. Radhakrishnan, Minister of State for Urban Development and Poverty Alleviation, at a meet in the Capital on Monday. — Kamal Narang
New Delhi , Sept. 8 THE Minister of State for Urban Development and Poverty Alleviation, Mr P. Radhakrishnan, on Monday said that the potential for mutual co-operation between India and Singapore is immense. Addressing a seminar on `India-Singapore: Partnership in the construction sector' organised by the Confederation of Indian Industry (CII), the Minister said that the Government, in line with its liberalisation policies, has opened up many more sectors to foreign direct investment (FDI), including township development and urban infrastructure. The Minister added that the Government is also allowing 100 per cent equity participation in the road sector through the automatic route. Earlier, addressing the seminar, the Singapore Minister for National Development, Mr Mah Bow Tan, said that the Comprehensive Economic Cooperation Agreement (CECA) initiated by the Prime Ministers of Singapore and India, would lead to far-reaching benefits for both the nations. The Singapore Minister added that the CECA would result in greater exchange in professional services as well as trade and investments between the two countries. It could be an important step for India in furthering its relations with ASEAN. Mr Tan felt that with the CECA in place, the Indian business community could leverage Singapore's strengths in finance, manufacturing and marketing to achieve greater global competitiveness.
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