New Delhi [India], September 4 : Prime Minister Narendra Modi on Thursday said that the Bilateral Comprehensive Economic Cooperation Agreement between India and Singapore will be jointly reviewed timely.
PM Modi in a joint Press Conference with Singaporean Prime Minister Lawrence Wong said that Singapore's investment in setting up a National Centre of Excellence for Skilling in Chennai will help in developing skilled manpower in the field of advanced manufacturing.
"We have decided that the Bilateral Comprehensive Economic Cooperation Agreement and our Free Trade Agreement with ASEAN will be reviewed in a time-bound manner to accelerate mutual trade. Our states will also be important stakeholders in India-Singapore relations. When President Tharman visited India in January, he visited Odisha," he said.
PM Modi noted that the GIFT City of Gujarat is helping connect the stock markets of both countries.
"In the last one year, the Chief Ministers of Odisha, Telangana, Assam and Andhra Pradesh have visited Singapore. GIFT City in Gujarat has become another new bridge to connect our stock markets. The Semiconductor Ecosystem Partnership Agreement, signed last year, has also given a new direction to research and development. The active participation of Singapore companies in the Semicon India Conference was a big thing in itself. Singapore will help in setting up a National Centre of Excellence for Skilling in Chennai. This centre will prepare skilled manpower in the field of advanced manufacturing," he said.
PM Modi hailed the inauguration of the India Mumbai Container Terminal Phase II developed by Singapore's company PSA International. He said that this will further increase India's container handling capacity.
"The agreement for Green and Digital Shipping Corridors will give impetus to green fuel supply chain and digital port clearance in the maritime sector. India is working rapidly on the development of its port infrastructure. Singapore's experience is extremely useful in this. Today we inaugurated the India Mumbai Container Terminal Phase II developed by Singapore's company PSA International. This will further increase our container handling capacity," he said.
PM Modi said that the vision of both the nations is to create peace and stability.
"Singapore is an important pillar of our Act East Policy. We will continue to work together with ASEAN to advance cooperation and joint vision of peace and stability in the Indo-Pacific region," he said.
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