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Declaration of Intent on the
Singapore - India Comprehensive Economic Cooperation Agreement (CECA)
1. On 8 April 2002, the Prime Minister of India, Shri Atal Bihari
Vajpayee, and Prime Minister of Singapore, Mr. Goh Chok Tong, met in
Singapore and agreed to establish a Joint Study Group to study the
benefits of an India-Singapore Comprehensive Economic Cooperation
Agreement (CECA).
2. The Joint Study Group met seven times, alternately in India and
Singapore, and has submitted its report to the two Prime Ministers. In
its report, the Joint Study Group has concluded that a CECA between
India and Singapore would provide significant benefits for both
countries, in terms of the potential for increased trade and investment,
and through economic cooperation.
3. As important as the direct economic benefits the CECA would bring to
the two countries, the CECA would serve to strengthen ties between India
and Singapore, and to form a bridge between India and the Association of
Southeast Asian Nations (ASEAN) region.
4. Significantly, the CECA could serve as a pathfinder for the
India-ASEAN Free Trade Agreement, and to connect Singapore to one of the
world's most dynamic emerging economies. The CECA would also strengthen
and catalyse the multilateral trading system.
5. We agree that the Joint Study Group's report will serve as a
framework for subsequent negotiations on a CECA. Negotiations for the
India-Singapore CECA should begin as soon as possible and aim to
conclude with the signing of the relevant agreements as early as
possible.
Signed in New Delhi on 8th April, 2003
