Singapore as a launchpad From the business point of view, a CECA is the ideal platform for both countries to broaden and deepen bilateral co-operation, and advance our shared interests. Singapore makes an excellent partner for Indian companies embarking on a strategy of regionalisation or globalisation. Because of our historical and cultural ties, Indians are very comfortable in Singapore’s social and corporate culture. Singapore is a good base for Indian companies to engage Southeast and East Asia. They can take full advantage of Singapore’s trade and business networks in these growth markets, in particular China. Singapore is also a major transportation, logistics and financial centre in Asia. We welcome Indian companies to make use of our international network of air, sea and telecommunications linkages, and tap the network and resources of 6,000 MNCs in Singapore. Already over 1,000 Indian companies are in Singapore. In the last 3 years alone, over 150 Indian companies have set up substantial presence. Several large companies that are globalising are using Singapore as a marketing and operations centre for their regional businesses. For start-ups, Singapore serves as an ideal incubator to prototype innovative ideas and technologies. This is a promising way of marrying India’s large talent pool with Singapore’s emphasis on such industries and with our framework of intellectual property protection. Numerous start-ups are now incubating in the Indian Centre and several have secured funding, penetrated markets and grown into mature companies. Building on these, a second centre is being planned with the Confederation of Indian Industry.

India has acceded to the Treaty of Amity and Co-operation in Southeast Asia (TAC) and adopted the Joint Declaration for Cooperation to Combat International Terrorism, signalling its strong commitment to ensure peace and security in the region. India is now a dialogue partner with ASEAN at the Summit level. Last year, the leaders adopted the suggestion of Indian Prime Minister Vajpayee and signed the ASEAN-India Framework Agreement on Comprehensive Economic Cooperation, an interim step towards an eventual ASEAN-India FTA. Both sides have agreed to start negotiations on trade in goods this year, including an ?early harvest programme? to boost trade in selected sectors. Singapore supports this far-sighted initiative and will work actively with India and other ASEAN members to fulfil this vision. The India-Singapore CECA Bilaterally, India and Singapore are already negotiating a Comprehensive Economic Co-operation Agreement (CECA), which will be a firm basis for expanding the India-ASEAN relationship. The rewards are not only economic, but also strategic. Singapore naturally hopes to gain freer access to the Indian market. But the benefits extend well beyond this. Singapore wants to strengthen its economic ties with many different centres of prosperity and growth, and not be overly dependent on one or two major trading partners. A strong relationship with India will complement our rapidly growing links with China, and help us to realise the strategy of growing two external wings in the region, with the two emerging economic giants.