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India, Singapore agree to deepen economic ties

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Singapore: Prime Minister Narendra Modi meets with Singapore's Prime Minister Lee Hsien Loong, at Istana - Presidential Palace, in Singapore on June 01, 2018. (Photo: IANS/PIB) by .
Singapore: Prime Minister Narendra Modi meets with Singapore's Prime Minister Lee Hsien Loong, at Istana - Presidential Palace, in Singapore on June 01, 2018. (Photo: IANS/PIB)

Modi arrived in Singapore on Wednesday on the third and final leg of his five-nation tour of southeast Asia….reports Asian Lite News

Singapore: Prime Minister Narendra Modi meets with Singapore's Prime Minister Lee Hsien Loong, at Istana - Presidential Palace, in Singapore on June 01, 2018. (Photo: IANS/PIB) by .
┬áPrime Minister Narendra Modi meets with Singapore’s Prime Minister Lee Hsien Loong, at Istana – Presidential Palace, in Singapore (Photo: IANS/PIB)

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.

Singapore: Prime Minister Narendra Modi and the Prime Minister of Singapore Lee Hsien Loong at the Joint Media Statement, at Istana - Presidential Palace, in Singapore on June 01, 2018. (Photo: IANS/PIB) by .
Prime Minister Narendra Modi and the Prime Minister of Singapore Lee Hsien Loong at the Joint Media Statement, at Istana – Presidential Palace, in Singapore (Photo: IANS/PIB)

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.

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.