S'pore, India intensify trade talks

S'pore, India intensify trade talks

SINGAPORE: Singapore hopes to conclude negotiations for a comprehensive economic partnership agreement with India within a year, Trade Minister George Yeo said on Wednesday.

"Our links with India are very good. We have begun negotiations for a Comprehensive Economic Partnership Agreement which should be concluded within a year," Yeo said at a business conference here.

"As India looks eastwards, we are their best partner in the region. Singapore can be a 'Hong Kong' to India as it reforms and opens up its economy," he said, referring to the entrepot role played by the former British colony in trade with China.

Last month, Singapore and India agreed to begin talks and work towards a comprehensive economic accord. The talks will cover trade liberalization as well as investment promotion, protection and cooperation, and further opening up of air services.

Singapore Prime Minister Goh Chok Tong, during a visit to India in April, expressed hope Singapore could serve as a bridge between Asian giants India and China which he said have the potential to be among the world's largest economies in 25 years' time. -- AFP