India–Singapore Comprehensive Economic Cooperation Agreement

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For the agreement between India and Malaysia, see Comprehensive Economic Cooperation Agreement.

The Comprehensive Economic Cooperation Agreement (CECA) is a free trade agreement between Singapore and India to strengthen bilateral trade. It was signed on 29 June 2005.[1]

In 2005, both nations signed the Comprehensive Economic Cooperation Agreement (CECA) and have organised the India-Singapore Parliamentary Forum and the Singapore-India Partnership foundation with active support from the Federation of Indian Chambers of Commerce and Industry (FICC), the Confederation of Indian Industry (CII) and the Singapore Business Federation to promote trade, economic development and partnerships.[2][3][4] The CECA eliminated tariff barriers, double taxation, duplicate processes and regulations and provided unhindered access and collaboration between the financial institutions of Singapore and India.[2][3] The CECA also enhanced bilateral collaboration related to education, science and technology, intellectual property, aviation, information technology, and financial fields.[2][3] Singapore has invested in projects to upgrade India's ports, airports and developing information technology parks and a Special Economic Zone (SEZ).[2] India has become Singapore's 4th biggest tourist destination and more than 650,000 Indians visited Singapore in 2006. Both nations have worked to collaborate on aviation, aerospace engineering, space programmes, information technology, biotechnology and energy.[2]

CECA Review[]

Singapore and India successfully concluded the second review of the India-Singapore Comprehensive Economic Cooperation Agreement (CECA) on 1 June 2018 in the presence of India Prime Minister Narendra Modi and Singapore Prime Minister Lee Hsien Loong.[5] It allows for the movement of four types of business people between Singapore and India. The second review of CECA was concluded with no change to the chapter on movement of people.[6]

In response to claims that surfaced in early 2016 that Singapore had backtracked on its commitment on CECA by blocking Indian IT professionals seeking work visas, and that India had put on hold further liberation of trade in response,[7] a spokesman from India’s Commerce Ministry confirmed that India had not put the CECA on hold and it continued (to be) in force. Singapore also said it had not received any official notification from the Indian government that the review of the CECA had been put on hold.[8]

In September 2018, India and Singapore formally launched the third review of CECA which focuses on trade facilitation, e-commerce and customs.[9]

All of the Free Trade Agreements Singapore has signed are available at Enterprise Singapore's website.[10]

See also[]

References[]

  1. ^ "Overview of India (CECA)". International Enterprise Singapore. 2005. Archived from the original on 24 June 2015. Retrieved 25 July 2015.
  2. ^ a b c d e "IPCS Special Report - India-Singapore Relations" (PDF). Institute of Peace and Conflict Studies. Archived from the original (PDF) on June 11, 2007. Retrieved 2008-06-18.
  3. ^ a b c "India, Singapore ink pact". Asia Times. 2005-07-02. Retrieved 2008-06-18.
  4. ^ "India-Singapore Economic and Commercial Relations". Federation of Indian Chambers of Commerce and Industry. Archived from the original on 11 June 2008. Retrieved 18 June 2008.
  5. ^ "Conclusion of the second review of the India-Singapore Comprehensive Economic Cooperation Agreement". www.mti.gov.sg. Archived from the original on 2019-02-12. Retrieved 2019-02-19.
  6. ^ "Can firms hire Indian professionals in Singapore without valid work passes, or without adhering to fair employment guidelines?". www.gov.sg. Archived from the original on 2019-02-12. Retrieved 2019-02-19.
  7. ^ "Singapore blocks visas for Indian IT professionals - Times of India ►". The Times of India. Archived from the original on 2018-11-28. Retrieved 2019-02-19.
  8. ^ "Committed to CECA review with India, says Singapore". 6 April 2017. Archived from the original on 12 February 2019. Retrieved 19 February 2019 – via The Economic Times.
  9. ^ "Third review of landmark India-Singapore economic deal to focus on trade facilitation, e-commerce and customs". The Straits Times. 1 September 2018. Archived from the original on 23 February 2019. Retrieved 19 February 2019.
  10. ^ "FTAs Singapore Has Signed". Enterprise Singapore. 15 September 2019.
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